Palm | Kelapa Sawit

DJI-NEW YORK, Dec 8 (Reuters) - U.S. stocks edged higher on Wednesday as gains in financial and technology stocks offset declines caused by a recent surge in bond yields.

Bank stocks have risen 10 percent since the start of the month as benchmark yields have climbed enough to make lending and trading more profitable.

The Dow Jones industrial average <.DJI> gained 13.32 points, or 0.12 percent, to 11,372.48. The Standard & Poor's 500 Index <.SPX> gained 4.53 points, or 0.37 percent, to 1,228.28. The Nasdaq Composite Index <.IXIC> gained 10.67 points, or 0.41 percent, to 2,609.16.

NYMEX-NEW YORK, Dec 8 (Reuters) - U.S. crude oil futures prices settled lower on Wednesday for a second straight day as sharp increases in U.S. fuel inventories and the dollar's strength pressured crude after it hit a 26-month peak above $90 a barrel in the previous session.

Although U.S. crude oil stocks fell more than expected, by 3.82 million barrels, according to the U.S. Energy Information Administration, refined products stocks rose sharply.

On the New York Mercantile Exchange, January crude fell 41 cents, or 0.46 percent, to settle at $88.28 a barrel, trading from $87.33 to $88.99.

CBOT-CHICAGO, Dec 8 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYMEAL - December up $2.40 at $345.40 a ton; January up $2.80 at $347.10.

CBOT-SOYOIL - December down 0.41 cent at 53.80 cents per lb; January up 0.38 at 54.18 cents.

FCPO-KUALA LUMPUR, Dec 8 (Reuters) - Malaysian crude palm oil fell on Wednesday for the first time in over a week on a firmer U.S. dollar and weaker technicals, and as traders took profits from the run of gains.

But the market, which has risen 34 percent in 2010, may rally further if more monsoon rains lash oil palm estates in Malaysia and dry weather heightens the risk of a poor South American soy crop, traders said.

A jump in U.S. bond yields boosted the dollar for a second day after President Barack Obama proposed to extend Bush-era tax cuts, fuelling inflation concerns and questions about a stable recovery for the world's largest economy.

The benchmark Feb 2011 crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended 0.4 percent lower at 3,594 ringgit ($1,143) a tonne, easing from a 29-month high hit on Monday.

Traded volume more than doubled to 24,790 lots of 25 tonnes each from the usual 10,000 lots as traders booked profits after a public holiday on Tuesday.

REGIONAL EQUITIES-COLOMBO, Dec 8 (Reuters) - The Indonesian stock market hit an all-time closing high on Wednesday, led by banking shares and helped by foreign buying, but other Southeast Asian markets ended mixed on concerns over euro zone debt and Chinese monetary tightening.

Indonesia <.JKSE>, the region's best performer this year, jumped 1.3 percent to close at 3,769.99, surpassing the previous peak hit on Nov. 10, Reuters data showed.

Singapore <.FTSTI> gained 0.3 percent to a near-three-week high and Malaysia <.KLSE> rose 0.6 percent to its highest since Nov. 11, both in high volume compared with their 90-day average. The Philippines <.PSI> gained 0.6 percent.