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DJI-NEW YORK, Nov 26 (Reuters) - U.S. stocks climbed on Wednesday as investors snapped up tech stocks trading near their cheapest levels in five years, and renewed hopes of a General Motors bailout helped investors shrug off data depicting a worsening global economic downturn.

The Dow Jones industrial average <.DJI> shot up 247.14 points, or 2.91 percent, to 8,726.61. The Standard & Poor's 500 Index <.SPX> gained 30.29 points, or 3.53 percent, to 887.68. The Nasdaq Composite Index <.IXIC> jumped 67.37 points, or 4.60 percent, to 1,532.10.

NYMEX-NEW YORK, Nov 26 (Reuters) - U.S. crude oil futures ended higher on Wednesday, lifted by another rousing day on Wall Street and shrugging off data that domestic crude supplies increased much larger than expected last week.

On the New York Mercantile Exchange, January crude settled up $3.67, or 7.23 percent, at $54.44 a barrel, trading from $50.15 to $54.86. It fell nearly 7 percent to $50.77 on Tuesday.

CBOT-SOYBEANS - January up 3 cents at $8.86 per bushel. Support from news that top U.S. soy buyer China cutting interest rates [ID:nPEK95037] and EU launching a big stimulus plan. Dryness in key South American production areas and higher crude oil also supportive.

Census Bureau said U.S. soy crush in October 149.75 million bushels, below estimates for 151.2 million.

CBOT-SOYOIL - December up 0.26 cent at 32.50 cts per lb. Following strength in soy and crude oil.

Census Bureau said U.S. soyoil stocks at the end of October 2.384 billion lbs, below the average estimate for 2.5 billion lbs.

FCPO-KUALA LUMPUR, Nov 26 (Reuters) - Malaysian palm futures surged 5.5 percent to hit a two-week high as market players scrambled to shortcover on expectations that crude oil would claw back some gains, traders said.

The benchmark February palm oil contract on the Bursa Malaysia's Derivatives Exchange rose as much as 84 ringgit to 1,604 ringgit ($443.1) per tonne before closing 78 ringgit up at at 1,598 ringgit.

REGIONAL EQUITIES-KUALA LUMPUR, Nov 26 (Reuters) - Southeast Asian stocks were mostly higher on Wednesday, led by Singapore and Indonesia, as investors cheered the U.S. Federal Reserve's latest rescue package aimed at throwing a lifeline to stressed consumers.

Singapore stocks <.FTSTI> led the region, closing up 3.5 percent at 1,711.13 points.
The Philippines market <.PSI> closed 1.3 percent higher at 1,932.91 points, but Malaysia's main index <.KLSE> closed 0.44 percent down at 856.37 points, led by banks amid concerns over weaker earnings after the central bank cut interest rates
unexpectedly on Monday.