Palm | Kelapa Sawit

DJI-NEW YORK, Oct 29 (Reuters) - U.S. stocks fell on Wednesday as a big rally faltered in the last minutes of trading on worry about the weakening corporate profit picture after a news report raised questions about General Electric's earnings outlook.

In a move that has been the trademark of the market's volatility ever since Lehman Brothers' bankruptcy filing in mid-September, the Dow plunged more than 300 points in the last 12 minutes, dashing prospects for the first back-to-back gains in a month.

Aside from the GE news, reported by Dow Jones with less than 15 minutes left in the session, traders said hedge funds and mutual funds were dumping stocks to raise cash to repay clients and lenders, while other investors were eager to lock in some profit from Tuesday's huge rally.

The Dow Jones industrial average <.DJI> fell 74.16 points, or 0.82 percent, to close at 8,990.96. The Standard & Poor's 500 Index <.SPX> declined 10.42 points, or 1.11 percent, to 930.09. But the Nasdaq Composite Index <.IXIC> rose 7.74 points, or 0.47 percent, to 1,657.21.

NYMEX-NEW YORK, Oct 29 (Reuters) - U.S. crude oil futures rose further in post-settlement trading on Wednesday as the U.S. dollar extended losses against the euro after U.S. stocks rallied after the Federal Reserve cut interest rates.

In late trading on the New York Mercantile Exchange, December crude hit a session high of $69.24. It earlier settled up $4.77, or 7.6 percent. at $67.50 a barrel, after trading from $63.65 to $68.91.

Prices have bounced from Monday's $61.30 intraday low, which was the weakest since $60.68 was struck on May 9, 2007.

CBOT-SOYBEANS - November up 58-1/2 cents at $9.37-1/4 per bushel; January up 59 cents at $9.47.

Led by crude oil and weak dollar with additional support from stabilizing stock markets. Bullish moves in soy options add strength, with firms selling puts and buying calls. Weak dollar also supportive as market awaited expected interest rate cut by the U.S. Fed.

CBOT-SOYOIL - December up 2.45 cents at 34.33 cents per lb. Front months rose the 2.5-cent limit earlier on soaring crude oil and higher soybeans.

FCPO-JAKARTA, Oct 29 (Reuters) - Malaysian palm futures finished lower on Wednesday amid worries that buyers will seek palm oil from rival Indonesia after Jakarta scrapped a tax on palm oil exports, traders said.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange finished 24 ringgit lower, or 1.64 percent, at 1,435 ringgit ($401) a tonne.
The January contract hit a low of 1,331 ringgit per tonne on Tuesday, the weakest since mid-August 2005.

REGIONAL EQUITIES-SINGAPORE, Oct 29 (Reuters) - Singapore stocks rose 0.3 percent on Wednesday, but stayed close to a 4-½ year low as investor fears the worsening financial crisis will cut company profits capped gains in blue chips such as SingTel.

The benchmark Straits Times Index <.FTSTI> closed up 4.71 points at 1,671.20 points, after touching its lowest since July 2003 on Tuesday. Elsewhere, Indonesian stocks <.JKSE> added 0.2 percent, and Philippine shares <.PSI> climbed 4.5 percent. Malaysian shares <.KLSE> fell 0.4 percent, and Thai stocks
<.SETI> dropped 3.5 percent.