Trader's Highlight

DJI-NEW YORK, June 17 (Reuters) - Technology shares buoyed the Nasdaq on Wednesday after positive broker comments on Qualcomm, but financial shares' losses held back the Dow and the S&P 500.

Banks were hurt by a broad debt ratings downgrade from Standard & Poor's and uncertainty over the government's extensive proposals for banking-industry reform.

Analysts said there were no surprises in President Barack Obama's plans to reshape financial regulation but uncertainty remained about the regulations' impact on the financial system and the wider economy.

The Dow Jones industrial average <.DJI> fell 7.49 points, or 0.09 percent, to 8,497.18. The Standard & Poor's 500 Index <.SPX> was off 1.26 points, or 0.14 percent, at 910.71. The Nasdaq Composite Index <.IXIC> gained 11.88 points, or 0.66
percent, to 1,808.06.

NYMEX-NEW YORK, June 17 (Reuters) - U.S. crude oil futures ended higher on Wednesday, climbing back above $71 a barrel in late trading, as traders took a second look at government data showing a higher-than-expected drawdown in crude stocks last week.

On the New York Mercantile Exchange, July crude settled up 56 cents, or 0.79 percent, at $71.03 a barrel, trading from $69 to $71.28.

CBOT-SOYBEANS - July up 5 cents at $12.06-1/4 a bushel.

Market receiving support from tight stocks. July/November spread weakening due to planting delays that could limit new crop. Deferred contracts leading front-month higher.

There was talk that China released 5 million tonnes of soybeans out of its state reserves.

CBOT-SOYOIL - July up 0.14 cent at 37.10 cents a lb. Rally in crude oil prices lends support to soyoil.

FCPO-KUALA LUMPUR, June 17 (Reuters) - Malaysian palm futures dropped 1 percent on Wednesday, moving towards the previous day's 2-month low as demand concerns resurfaced in the market.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange settled down 25 ringgit to 2,375 ringgit ($672.8) per tonne. The contract dropped to 2,358 ringgit per tonne on Tuesday, a level unseen since April 17. Overall volume stood at 12,464 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 17 (Reuters) - Southeast Asian stock markets
fell on Wednesday as investors took profits from a recent rally in financial and telecom shares, with Singapore's DBS, Malaysia's Axiata and Indonesia's Bank Central Asia among losers.

Doubts about the global economic recovery fuelled the sell-off and dealers said the selling would continue.

Singapore's main stock index <.FTSTI> fell for a fifth day, ending down 0.7 percent at a three-week low, Malaysia <.KLSE> and Indonesia <.JKSE> both lost 0.3 percent, while the Philippines <.PSI> dropped 2.9 percent.

Thailand's SET Index <.SETI> lost 1.7 percent, extending its fall into a third day, but Vietnam <.VNI> bucked the trend, eking out a small gain of 0.11 percent.