Trader's Highlight

DJI-NEW YORK, Aug 23 (Reuters) - U.S. stocks slipped in one of the lightest volume sessions of the year on Monday as investors took refuge in defensive shares after the latest corporate M&A failed to soothe concerns the recovery is stalling.

Technology shares weighed on the broad market and sent the Nasdaq composite lower as a possible bidding war over data storage company 3PAR between Hewlett Packard Co and Dell Inc sent shares of HP 2 percent lower.

The Dow Jones industrial average <.DJI> slipped 39.21 points, or 0.38 percent, to 10,174.41. The Standard & Poor's 500 Index <.SPX> lost 4.33 points, or 0.40 percent, to 1,067.36. The Nasdaq Composite Index <.IXIC> fell 20.13 points, or 0.92 percent, to 2,159.63.

NYMEX-NEW YORK, Aug 23 (Reuters) - U.S. crude oil futures ended lower for the fourth day in a row on Monday, dragged down by a steep slide in gasoline futures and as dollar remained firm, having recovered from early weakness.

There were no major economic indicators for the day and oil traders turned to the financial markets early for market guidance.

On the New York Mercantile Exchange, crude for October delivery settled down 72 cents, or 0.98 percent, at $73.10 a barrel, the lowest close since front-month contract prices ended at $71.98 on July 6. It traded from $72.75 to $74.48.

CBOT-CHICAGO, Aug 23 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - September down 2-1/4 cents at $10.07 per bushel, most-active November up 1-1/2 at $10.05-1/2. Supported by brisk export demand for soybeans and the strength in wheat. Rally limited by seasonal pressure as U.S. harvest nears; market expects a large soy crop.

CBOT-SOYOIL - September down 0.27 cent at 39.25 cents per lb. Pressured by declines in crude oil.

FCPO-KUALA LUMPUR, Aug 23 (Reuters) - Malaysian crude palm oil futures ended 0.6percent higher on Monday after touching fresh three-week lows earlier in the session over concerns that a stronger ringgit will hurt refiner margins.

Traders are on the lookout for new cues after palm oil futures last week notchedtheir biggest weekly fall since October as traders took profits from a recent weather-induced rally in agriculture markets as well as lower palm oil exports.

The benchmark November crude palm oil contract rose by 16 ringgit to 2,560 ringgit ($815.3) a tonne, after reaching an intraday low of 2,532 ringgit -- a level unseen since July 30. Overall traded volume rose to 18,218 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Aug 23 (Reuters) - Thai stocks edged higher on Monday to their highest in 33-months after better-than expected second-quarter economic data and an improving outlook.

Thailand's economy unexpectedly grew in the second quarter from the first as a surge in exports offset deadly political unrest, cementing expectations interest rates will rise further this year.

Economic optimism continued to boost investor appetite in the region, sending Malaysia <.KLSE> and the Philippines <.PSI> each to a 2-½ year high with each adding about 0.6 percent.

Several Southeast Asian stock markets closed above their 5-day moving average, showing a near-term buy signal, including Thaiand's 5-day moving avearage of 886, Malaysia's 1,390.91, Indonesia's 3,101.12 and Philippines' 3,569.63.

Among weak spots in Singapore, Wilmar , the world's largest listed palm oil firm, fell 0.3 percent.

It announced its subsidiaries will acquire the business of a Singapore sugar trading company, Windsor & Brook Trading, and all of the shares of PT Jawamanis Rafinasi, which owns sugar refineries in Indonesia.

In Kuala Lumpur, Telekom Malaysia Bhd gained 0.9 percent. It released after market close a second-quarter net profit of 124.38 million ringgit, versus 265.97 million ringgit a year ago.