Ttrader's Highlight

DJI-NEW YORK, Nov 19 (Reuters) - U.S. and European shares ended at five-and-a-half-year closing lows on Wednesday as a record drop in U.S. consumer prices and more dismal housing data stoked recession fears, driving a flight to safety.

Doubts about the prospect of a U.S. auto industry rescue added to America's weak economic outlook, further weighing on stocks and helping push the dollar down against the yen.

Markets are pricing in further rate cuts, with the U.S. Federal Reserve seen cutting another 50 basis points in December and figures derived from Eonia rates fully pricing in 75 basis points of European Central Bank cuts next month.

The Dow Jones industrial average <.DJI> closed down 427.47 points, or 5.07 percent, at 7,997.28. The Standard & Poor's 500 Index <.SPX> was down 52.54 points, or 6.12 percent, at 806.58. The Nasdaq Composite Index <.IXIC> was down 96.85 points, or 6.53 percent, at 1,386.42.

NYMEX-NEW YORK, Nov 19 (Reuters) - U.S. crude futures ended lower on Wednesday as weekly inventory data showed a larger-than-expected stock increase, offsetting an overall drawdown in distillate supplies.

On the New York Mercantile Exchange, December crude , which expires on Thursday, settled down 77 cents, or 1.42 percent, at $53.62 a barrel, the lowest settlement prices closed at $51.13 on Jan. 22, 2007.

CBOT-SOYBEANS - January down 5 cents at $8.97. Pressure from falling stock market but underpinned by dry weather in Argentina, the world's third largest soy exporter.

Soy continues to find support from tightening U.S. stocks, but gains limited by concern about demand during a global recession.

CBOT-SOYOIL - December down 0.31 cent at 31.97 cents per lb. Early gains clipped as stock market turned down.

FCPO-KUALA LUMPUR, Nov 19 (Reuters) - Malaysian palm oil futures ended 3.1 percent higher on Wednesday, after India hiked import tariffs for rival soyoil the prior day, heightening hopes for more demand although traders said palm oil was next for a rise.

The benchmark February contract on the Bursa Malaysia Derivatives Exchange settled up 44 ringgit at 1,480 ringgit ($410) per tonne. Other traded months on Bursa Malaysia <0#KPO:> rose between 30 and 58 ringgit. Trading volume nearly doubled to 18,518 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 19 (Reuters) - Most Southeast Asian stocks fell
on Wednesday as investors, spooked by weak corporate profit outlooks, sold financials and blue chips such as Singapore's DBS, Indonesia's Bank Rakyat and Thailand's top oil firm PTT.

Singapore's benchmark Straits Times Index <.FTSTI> closed down 1.59 percent to its lowest level since October 29.Indonesia's main stock index <.JKSE> drifted 0.8 percent lower at the close after earlier touching 1,159.96 points.Malaysia's main stock index <.KLSE> fell for a second day, down 0.62 percent, as palm plantation firm Sime Darby lost 0.78 percent and IOI Corp dipped 0.65 percent,despite a 2.2 perecent rise in Malaysian palm oil futures.