Trader's Highlight

DJI-NEW YORK, March 18 (Reuters) - U.S. stocks rallied on Wednesday after the Federal Reserve surprised Wall Street when it said it will buy long-term Treasury bonds for the first time in four decades in an effort to revive the recession-hit
economy.

The Dow Jones industrial average <.DJI> gained 90.88 points, or 1.23 percent, to 7,486.58. The Standard & Poor's 500 Index <.SPX> advanced 16.23 points, or 2.09 percent, to 794.35. The Nasdaq Composite Index <.IXIC> rose 29.11 points, or 1.99 percent, to 1,491.22.

The Fed said it will buy up to $300 billion worth of longer-term U.S. government debt over the next six months and expand purchases of mortgage-related debt to help ease credit market conditions in its latest action to lower borrowing costs.

NYMEX-NEW YORK, March 18 (Reuters) - U.S. crude oil futures settled lower, but pared losses and turned positive after the close on Wednesday when the U.S. Federal Reserve said it was planning to buy a big chunk of long-dated Treasury securities,
sending the dollar sharply lower.

On the New York Mercantile Exchange settled down $1.02 at $48.14 a barrel. It traded to a low of $46.92 but moved into positive territory and hit a high of $49.87, following the Fed's announcement. The April crude oil contract expires on Friday.

CBOT-SOYBEANS - May up 2 cents per bushel at $9.15 per bushel.

Tight soy stocks and firm cash lifting prices in addition to concern about Argentine soy exports amid an ongoing conflict between farmers and government. Soy/corn spreading also supportive.

CBOT-SOYOIL - May down 0.39 cent per lb at 30.92 cents per lb. Pressured by lower crude oil.

FCPO-KUALA LUMPUR, March 18 (Reuters) - Malaysian crude palm oil futures fell 0.9 percent on Wednesday as players booked profits on fears demand would not flow in at above current price levels.

The benchmark June contract on the Bursa Malaysia Derivatives Exchange settled down 17 ringgit to 1,905 ringgit ($517.6) per tonne after going as high as 1,948 ringgit.

Other traded months were marginally lower <0#KPO:>. Overall volumes stood at 13,530 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, March 18 (Reuters) - Singapore shares <.FTSTI> rose
more than 1 percent as Southeast Asian stocks advanced on Wednesday, led by banks such as DBS Group , Public Bank , Bangkok Bank and Bank Mandiri .

The Straits Times Index <.FTSTI> closed 1.1 percent higher, Malaysia's index <.KLSE>, the region's second best performer this year after Jakarta, rose for a second day to close up 0.7 percent at a 1-week high. Thailand's SET index <.SETI> closed up 0.9 percent and Indonesia's index <.JKSE> ended 0.8 percent higher.