Palm | Kelapa Sawit

DJI-NEW YORK, Jan 28 (Reuters) - U.S. stocks rose on Wednesday, capping the S&P 500's longest winning streak since November, as financial stocks soared on optimism the Obama administration was making progress on a plan to relieve banks of money-losing assets.

Stocks initially added gains following the Federal Reserve's statement that it is prepared to buy long-term U.S. government debt, but the boost faded upon the realization that the Fed's purchases won't be made any time soon.

The Dow Jones industrial average <.DJI> finished up 200.72 points, or 2.46 percent, at 8,375.45. The Standard & Poor's 500 Index <.SPX> climbed 28.38 points, or 3.36 percent, to 874.09. The Nasdaq Composite Index <.IXIC> ended up 53.44 points, or 3.55 percent, at 1,558.34.

When trading resumes on Thursday, investors are also likely to focus on the U.S. House of Representatives' approval late Wednesday of an $825 billion economic stimulus bill. The House voted 244 to 188 to pass the bill containing President
Barack Obama's program for emergency spending and tax cuts. The measure next goes to the U.S. Senate for debate, starting probably sometime next week.

NYMEX-NEW YORK, Jan 28 (Reuters) - U.S. crude futures ended higher on Wednesday, supported by a rally in refined product futures and despite U.S. government data showing a much larger-than-expected weekly build in oil stocks.

On the New York Mercantile Exchange, March crude settled up 58 cents, or 1.39 percent, at $42.16 a barrel, trading from $40.60 to $43.60. Tuesday's 9.08 percent loss was the steepest in percentage terms since prices dropped 12.25
percent on Jan. 7.

CBOT-SOYBEANS - March up 6-1/2 cents at $9.82-1/2 a bushel; May up 6-1/4 at $9.90. Technical buying after slipping below $10 on Tuesday. Worries about smaller South American crop despite recent rains in Argentina, third largest soy exporter, and forecasts for more, weigh.

Paraguay estimated its 2008/09 soybean crop at 3.8 million tonnes, 43 percent below the previous harvest of 6.8 million due to drought.

Brazil soy crop revised down to 57.7 million tonnes-AgRural.

Analysts expect U.S. Census Bureau to report December soy crush at 139.8-141.5 million bushels, versus 144.6 million in November. [

CBOT-SOYOIL - March up 0.14 cent at 32.91 cents per lb. Turned up with soybeans. Crude also firmer, rebounding from Tuesday's big drop on outlooks for government to report bigger weekly crude and gasoline stocks.

FCPO-KUALA LUMPUR, Jan 28 (Reuters) - Malaysian crude palm oil futures slid 2.6 percent on Wednesday in light post-holiday trading after crude oil slumped and a cargo surveyor reported slower sales, fanning demand concerns.

The benchmark April contract on the Bursa Malaysia Derivatives Exchange settled down 48 ringgit at 1,782 ringgit($497.1) a tonne.

Other traded contracts fell between 34 ringgit and 50 ringgit. Overall volume dropped to 6,079 lots

REGIONAL EQUITIES-BANGKOK, Jan 28 (Reuters) - Singapore shares closed at their
highest in two weeks and Malaysian shares rose almost one percent on Wednesday after a two-day holiday, with Singapore's financials and Malaysia's plantation firms leading gainers.

Traders said investors were pumping cash into Singapore financials amid hopes that U.S. President Barack Obama's new stimulus package may help ease the credit crisis.