Trader's Highlight

DJI-NEW YORK, Feb 9 (Reuters) - Investors took profits after a recent rise in U.S. stocks on Wednesday but a late-hour rally in Bank of America shares helped the Dow squeeze out its eighth straight day of gains.

Market participants remain confident that solid corporate earnings will inspire further advances, but a recent string of lightly traded sessions raises worries that buying interest at current levels has dried up.

The Dow Jones industrial average <.DJI> was up 6.74 points, or 0.06 percent, at 12,239.89. The Standard & Poor's 500 Index <.SPX> was down 3.69 points, or 0.28 percent, at 1,320.88. The Nasdaq Composite Index <.IXIC> was down 7.98 points, or 0.29 percent, at 2,789.07.

NYMEX-NEW YORK, Feb 9 (Reuters) - U.S. crude futures ended slightly lower on Wednesday after a volatile session on pressure from the government's oil inventory report showing crude and product stockpiles rose last week.

While the Energy Information Administration data curbed U.S. crude, ongoing concerns about unrest in Egypt and a weaker dollar helped Brent rise intraday above $102 a barrel.

Brent's premium to its U.S. counterpart pushed to a record high above $15a barrel.

On the New York Mercantile Exchange, March crude fell 23 cents, or 0.26 percent, to settle at $86.71 a barrel, having traded from $86.36 to $87.95.

CBOT-CHICAGO, Feb 9 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - March up 16-3/4 cents at $14.51 per bushel. Spillover support from big rally in corn futures following the release of USDA's February supply/demand and crop production reports.

CBOT-SOYOIL - March up 0.97 cent at 59.74 cents per lb. Following soybeans.

FCPO-KUALA LUMPUR, Feb 9 (Reuters) - Malaysian palm oil futures jumped to a fresh three-year high on Wednesday as traders bet on further tightening of supplies and strong economic growth underscored by China's surprise rate move.

On Tuesday, China, the world's No.2 vegetable oil buyer, raised interest rates for the second time in just over six weeks, renewing its battle with stubbornly high inflation.

The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose half a percent. Earlier in the day the contract hit a three-year high of 3,948 ringgit ($1,301)a tonne. Overall volumes shot up to 28,604 lots at 25 tonnes each, compared to the usual 15,000 lots

REGIONAL EQUITIES-BANGKOK, Feb 9 (Reuters) - Southeast Asian stock markets fell on Wednesday as China's rate hike prompted selling in emerging equities, a sector already plagued by growing inflationary pressure and rising interest rate environment.

China's tightening stoked concern over moderating Asian demand that could hurt Southeast Asian companies exposed to China, squeeze exports and dent corporate earnings.

Beaten-down stocks included Southeast Asia's biggest developer CapitaLand , which touched its lowest in almost nine months, and palm oil shares which saw selling across the region on fears of weakening demand in China.

Singapore's Straits Times Index <.FTSTI> lost 1 percent on the day, setting a year-low. Indonesia's main index <.JKSE> fell over 2 percent at one point to its lowest in more than one week. Philippine <.PSI> and Thai stocks <.SETI> hit one-week low.

Volumes were relatively brisk in Singapore, with turnover of 1.5 times its 30-day average, followed by Malaysia's <.KLSE> 1.1 times. Turnover of Indonesia and Thailand both fell to 0.8 times their 30-day average.

As in broader Asia, inflation remains a major risk for Southeast Asia this year, with food and fuel prices continuing to rise, prompting market investors to expect more rate hikes by policymakers in the region this year.

Palm oil shares were weak spots in the region. Wilmar International , the world's largest listed palm oil firm, lost 1.6 percent, Malaysia's IOI Corp eased 0.5 percent and Indonesia's PT Astra Agro Lestari fell 2.5 percent.