Trader's Highlight

DJI-NEW YORK, July 14 (Reuters) - U.S. stocks fell on Thursday as Fed Chairman Ben Bernanke backed off hints additional near-term stimulus could be on the way, removing a possible catalyst from a market already facing plenty of obstacles.

Technology shares led the market lower and the Nasdaq fell 1 percent, reversing early gains while the market's favored indicator of anxiety, the CBOE Volatility Index .VIX, rose 4.5 percent and hit a two-and-a-half week high.

The Dow Jones industrial average .DJI slid 54.49 points, or 0.44 percent, to close at 12,437.12. The Standard & Poor's 500 Index .SPX shed 8.85 points, or 0.67 percent, to finish at 1,308.87. The Nasdaq Composite Index .IXIC dropped 34.25 points, or 1.22 percent, to end at 2,762.67.

NYMEX-NEW YORK, July 14 (Reuters) - U.S. crude futures fell more than 2 percent on Thursday, snapping two days of gains as Federal Reserve Chairman Ben Bernanke dampened expectations that more monetary easing was on the way.

On the second day of delivering the Fed's semiannual monetary policy report to Congress, Chairman Ben Bernanke repeated the central bank is prepared to act if the modest recovery from the recession falters. but he also made clear the Fed is not at that point now.

On the New York Mercantile Exchange, August crude CLQ1 fell, $2.36, or 2.41 percent, to settle at $95.69 per barrel, trading from $94.53 to $98.88. Thursday's slip was the biggest one-day percentage loss since July 8, when front-month crude fell 2.5 percent.

CBOT-CHICAGO, July 14 (Reuters) - U.S. soybean futures on the Chicago Board of Trade closed higher on Thursday on technical buying and as traders exited long corn/short soybean spreads, brokers said.

Market underpinned by forecasts for hot and dry weather in the U.S. Midwest starting this weekend that may threaten some of the crops, especially corn.

China's soybean imports in 2011/12 are likely to rise nearly 10 percent from a year earlier, after an expected mild increase in 2010/11 - COFCO official. [nL3E7IE1B2]

Dollar weakness helped lift values early, but soybeans held firm as the dollar cut losses and crude oil turned down after Federal Reserve Chairman Ben Bernanke doused market speculation that another round of monetary easing was on the way.

REGIONAL EQUITIES-BANGKOK, July 13 (Reuters) - Southeast Asian stock markets gained on Wednesday as Chinese economic growth data eased some fears about a global slowdown and resource shares advanced in line with the improving outlook for commodity demand from the world's second-largest economy.

The region snapped a two-day losing streak, also helped by bargain-hunting in recently beaten-down banks as their reporting season kicks off this month and strong consumption suggests a favourable outlook in the financial sector.

Stocks in the Philippines .PSI, Thailand .SETI and Indonesia .JKSE climbed over 1 percent, with others posting more limited gains.

Light trading volume in some markets reflected signs of caution as debt problems continued to cloud prospects in the euro zone. Indonesia, Malaysia .KLSE and the Philippines have all pulled back after setting all-time highs early this month.