Trader's Highlight

DJI-NEW YORK, Oct 20 (Reuters) - Wall Street bounced back on Wednesday as a fall in the dollar spurred buying in industrial and commodity-linked shares, while another batch of strong corporate earnings added to gains.

Equities and the greenback have had an inverse relationship lately because the Federal Reserve's ultra-low interest rate policy has led investors to buy riskier assets like stocks and commodities.

The Dow Jones industrial average <.DJI> gained 129.35 points, or 1.18 percent, to 11,107.97. The Standard & Poor's 500 Index <.SPX> rose 12.27 points, or 1.05 percent, to 1,178.17. The Nasdaq Composite Index <.IXIC> added 20.44 points, or 0.84 percent, to 2,457.39.

NYMEX-NEW YORK, Oct 20 (Reuters) - U.S. crude oil futures prices rose on Wednesday on a weaker dollar and as equities markets bounced a day after share and commodities prices were pressured after China raised interest rates to cool inflation in its booming economy.

Oil investors awaited oil inventory data from the U.S. Energy Information Administration on the day the NYMEX November crude contract expires.

On the New York Mercantile Exchange, November crude rose 71 cents, or 0.9 percent, to $80.20 a barrel at 8:22 a.m. EDT (1222 GMT), trading from $79.35 to $80.63.

CBOT-CHICAGO, Oct 20 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - November up 32 cents at $12.12 per bushel; January up 32-1/4 cents at $12.23-3/4. Rallied to 14-month high as china kept buying U.S. soy and dollar slid. New contract high set.

CBOT-SOYOIL - December up 1.37 cents at 48.47 cents per lb. Support from rally in soybeans and gains in crude oil. Rallied to new contract highs.

FCPO-KUALA LUMPUR, Oct 20 (Reuters) - Palm oil futures hit a new 27-month high and other vegetable markets gained as traders banked on strong export demand from China despite the country's central bank raising interest rates.

Malaysia's January 2011 palm oil contract jumped as much as 2.3 percent to 2,985 ringgit ($960.7) per tonne, trading at a level unseen since August 2008 and hovering just below the crucial 3,000 ringgit level.

Traded volume almost doubled to 19,252 lots of 25 tonnes from each the usual 10,000 lots as traders put aside concerns that China's demand would stall in the country's efforts to tighten credit.

The most active May soyoil futures on China's Dalian Commodity Exchange ended down just 0.4 percent at 8,980 yuan ($1,352) a tonne, after falling to over a month low of 8,812 yuan earlier in the day.

REGIONAL EQUITIES-BANGKOK, Oct 20 (Reuters) - Southeast Asian stock markets fell on Wednesday, feeling the pinch from an unexpected 25 basis point rate increase in China, with weak global commodity prices weighing on resource shares across the region.

However, Asian stocks in general pared early losses after the initial shock from China's first rate rise in nearly three years, which had investors fretting it may be embarking on a tightening cycle.

Singapore's Straits Times Index <.FTSTI> finished down 0.4 percent, Malaysia's main share index <.KLSE> edged down 0.1 percent, Indonesia <.JKSE> fell 0.39 percent and Thailand's SET index <.SETI> fell 0.12 percent.