Breaking News-RTRS-UPDATE 1-China's soybean auction gets no bids in early sales

BEIJING, July 23 (Reuters) - China's state reserve auction of soybeans failed to attract bids in two regions on Thursday, industry website www.grainmarket.com.cn said, as the buyers deemed the government-set prices too high.

Trader's Highlight

DJI-NEW YORK, July 23 (Reuters) - U.S. stocks surged on Thursday, driving the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economy.

The market extended opening gains after data showed U.S. existing home sales rose in June -- the first time since 2004 that this measure has risen three months in a row. The Dow Jones U.S. home construction index <.DJUSHB> jumped 4.9 percent.

The Dow Jones industrial average <.DJI> jumped 188.03 points, or 2.12 percent, to end at 9,069.29 -- its highest close since November 2008. It was the Dow's first close above 9,000 since January 2009.

NYMEX-NEW YORK, July 23 (Reuters) - U.S. crude oil futures ended sharply higher on Thursday as a Wall Street rally and strong RBOB gasoline futures helped lift crude above $67 a barrel.

A strengthening contango, where prices for crude in future months exceed the front-month price, added to support for oil along, with expectations for reduced crude exports from OPEC.

On the New York Mercantile Exchange, September crude rose $1.76, or 2.69 percent, to settle at $67.16 a barrel, trading from $64.40 to $67.49. The intraday high failed to reach technical resistance charted at $67.65.

CBOT-SOYBEANS - August up 5 cents at $10.23-1/2 a bushel Support from tight soy supplies, news China not able to sell soy from state reserves and continued solid export sales of U.S. soybeans. Gains in crude oil also support prices.

Census pegs June U.S. soy crush 140.2 million bushels, above an average of analysts' estimates for 138.5 million.


CBOT-SOYOIL - August up 0.15 cent at 34.67 cents per lb.

Suported by gains in soybeans. But small number for soyoil in USDA's weekly export sales report and a big number for U.S. soyoil ending stocks for June in the Census Bureau's June crush report limited gains.

Census pegs June U.S. soyoil ending stocks 3.403 billion lbs, above an average of analysts' estimates for 3.354 billion.

FCPO-KUALA LUMPUR, July 23 (Reuters) - Malaysian crude palm oil ended up 0.8 percent on Thursday, halting two straight days of losses, as traders bet on better festival demand in the coming weeks and sentiment improved on higher external markets.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange rose 17 ringgit to 2,100 ringgit ($593.5) per tonne. Overall volume was 12,464 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, July 23 (Reuters) - Most Southeast Asian stock markets rose on Thursday, with Singapore, Thailand and Indonesia recouping recent losses and Malaysia rising for a second day, with banking, property and resource shares among advancers.

Singapore's index <.FTSTI> rose 1.4 percent, with Singapore Exchange surging 4.9 percent following the appointment of a new chief executive.Singapore's index <.FTSTI> rose 1.4 percent, with Singapore
Exchange surging 4.9 percent following the appointment
of a new chief executive.

The Vietnamese index <.VNI> jumped 3.5 percent on Thursday while Malaysia's index <.KLSE> was up 0.3 percent, adding to a 1.23 percent rise on Wednesday, led by a 3.3 percent gain in Genting and 1.3 percent rise in Sime Darby .

DJI Daily: More room to upside potential

A significant breakout at the key 9000 mark had provided us a more clearer direction to the upside. Thus, we are now looking for the upside resistance at 9600-9800. While, downside support is pegged at 8800.

KLSE Daily: Peakless

Chart wise remains bullish and no sign of weakening. Thus, market may extend its upside gain in near term. Immediate resistance is now looking at 1160-1165 followed by 1180-1190. While, immediate downside support is pegged at 1140-1130.

FKLI Daily: Eyeing 1200 mark

Market rally likely to continue in near term and looks may want to challenge 1200 mark in near term. To the downside, support is pegged at 1140-1130.

FCPO Daily: searching for direction

Market is still searching for direction and moving in range trading. As for now, we are looking for the immediate downside support at 2078. To the upside, immediate resistance is at 2135 followed by 2160-2180.