Trader's Highlight

DJI-NEW YORK, March 17 (Reuters) - U.S. stocks gained on Wednesday, pushing the Dow to a 17-month high, after a benign February inflation reading supported the Federal Reserve's renewed pledge of low interest rates.

The market reacted positively to a drop in the February Producer Price Index, further supporting the near-zero interest rates that have propelled the rally in equities.

The Dow Jones industrial average <.DJI> gained 47.69 points, or 0.45 percent, to end at 10,733.67. The Standard & Poor's 500 Index <.SPX> rose 6.75 points, or 0.58 percent, to 1,166.21. The Nasdaq Composite Index <.IXIC> advanced 11.08 points, or 0.47 percent, to 2,389.09.

NYMEX-NEW YORK, March 17 (Reuters) - U.S. crude oil futures settled higher on Wednesday after a government oil inventory report showed falling fuel supplies and as the dollar softened in the wake of the Federal Reserve interest rate decision.

On the New York Mercantile Exchange, April crude rose $1.23, or 1.51 percent, to settle at $82.93 a barrel, trading from $81.72 to $83.09.

CBOT-CHICAGO, March 17 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.

CBOT-SOYBEANS - May up 14 cents per bushel at $9.59. Ended near day's high on late short-covering, buy-stops and fund buying. Weak dollar and firm crude oil supporting soy in addition to support from concern about a potential strike of Argentine truckers and port workers.

CBOT-SOYOIL - May up 0.46 cent per lb at 39.83. Support from gains in soybeans and firm crude oil.

FCPO-KUALA LUMPUR, March 17 (Reuters) - Malaysian crude palm oil futures ended up 1 percent on Wednesday on a technical rebound, after the market hit one-month lows the previous day, but a stronger ringgit curbed gains.

Benchmark June crude palm oil futures on the Bursa Malaysia Derivatives Exchange rose 26 ringgit to 2,595 ringgit ($783.5) per tonne. On Tuesday, the market dropped as much as 25 ringgit to 2,550 ringgit, a level unseen since Feb .12. Overall traded volume rose to 15,515 lots at 25 tonnes each, from the 10,000 lots.

REGIONAL EQUITIES-BANGKOK, March 17 (Reuters) - Indonesian stocks hit two-year
highs on Wednesday as foreign investors piled into Southeast Asia, lured by the prospect of better returns after the U.S. Federal Reserve renewed a pledge to keep rates near zero.

Thailand <.SETI> approach 20 month highs, Singapore <.FTSTI> hit an eight-week high, Malaysia <.KLSE> and the Philppines <.PSI> each posted smaller gains, while Vietnam <.VNI> extended losses for a second day.

Singapore's benchmark index rose 0.8 percent. Among actively traded stocks, Genting Singapore was up 1.6 percent and CapitaLand rose 2.5 percent.

In Kuala Lumpur, the index was up 0.24 percent, reversing a four-day fall, led by gaming group Genting Malaysia and financial AMMB Holdings each gaining almost two percent.