Palm | Kelapa Sawit

DJI-NEW YORK, Oct 30 (Reuters) - Stocks rallied around the world on Thursday on optimism that interest rate cuts by the U.S. Federal Reserve and other central banks will ease a looming global recession, even as oil prices fell on concerns about slowing demand.

U.S. gross domestic product shrank at a 0.3 percent annual rate in the third quarter as the sharpest pullback by consumers since 1980 overwhelmed the benefit from ramped-up government spending, the U.S. Commerce Department reported.
In Europe, German unemployment fell more sharply than expected in October, pushing the jobless rate down to a new 16-year low of 7.5 percent.

The Dow Jones industrial average <.DJI> closed up 19164 points, or 2.13 percent, at 9,182.60. The Standard & Poor's 500 Index <.SPX> was up 23.80 points, or 2.56 percent, at 953.89. The Nasdaq Composite Index <.IXIC> was up 41.31 points, or 2.49 percent, at 1,698.52.

NYMEX-NEW YORK, Oct 30 (Reuters) - U.S. crude futures ended lower on Thursday as weak third-quarter economic data rekindled demand worries.

On the New York Mercantile Exchange, December crude settled down $1.54, or 2.28 percent, at $65.96 a barrel, trading from $64.04 to $70.60.

CBOT-SOYBEANS - November off 3-1/4 cents at $9.34 per bushel; January off 4 cents at $9.43.

Pressure from firm dollar and drop in crude oil. Market underpinned by large export sales, talk of fund buying and bullish moves in options, including call buying.

CBOT-SOYOIL - December up 0.15 cent at 34.48 cents per lb. Following soybeans, with added pressure from crude oil.

U.S. Census Bureau reported U.S. Sept soyoil stocks at 2.471 billion lbs, compared to preliminary estimate for 2.527 billion.

FCPO-JAKARTA, Oct 30 (Reuters) - Malaysian palm futures closed higher on Thursday after crude oil hit $70 a barrel in Asian trade, traders said.

The market also rallied ahead of a government announcement on replanting plans, aimed at helping to boost the palm oil price.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange rose 125 ringgit, or 8.71 percent, to 1,560 ringgit ($441) a tonne. Contracts for other traded months rose between 65 ringgit and 142 ringgit, with overall volume of 15,951 lots of 25 tonnes each.

REGIONAL EQUITIES-SINGAPORE, Oct 30 (Reuters) - Singapore stocks led the surge in Southeast Asian equity markets on Thursday, with financials in the spotlight, as investors cheered the Federal Reserve's rate cut and a slew of government efforts to boost bank liquidity.

The benchmark Straits Times Index <.FTSTI> closed 7.8 percent higher. Elsewhere, Thai shares <.SETI> climbed 6.3 percent, Indonesian stocks <.JKSE> gained 5.4 percent, and Philippine's benchmark index <.PSI> added 4.7 percent.