DJI-NEW YORK, June 21 (Reuters) - U.S. stocks posted gains for the fourth day on Tuesday on growing hopes that Greece will avoid a debt default, adding momentum to the market's recent rebound.
The Nasdaq had its biggest percentage gain since October, while the S&P 500 marked its best day in two months in what investors believe could be continued short-term buying from deeply oversold levels.
The Nasdaq reclaimed positive territory for the year and led the market's advance, boosted by a jump in semiconductor stocks. A semiconductor index .SOX shot up 2.5 percent, its best gain since April.
The Dow Jones industrial average .DJI rose 109.63 points, or 0.91 percent, to 12,190.01 at the close. The Standard & Poor's 500 Index .SPX gained 17.16 points, or 1.34 percent, to 1,295.52. The Nasdaq Composite Index .IXIC climbed 57.60 points, or 2.19 percent, to 2,687.26.
NYMEX-NEW YORK, June 21 (Reuters) - U.S. crude futures edged up on Tuesday, as the euro rose against the dollar on hopes the Greek government would survive a confidence vote and help the country avoid defaulting on its sovereign debt.
Forecasts that U.S. crude stocks fell last week, ahead of inventory reports, were also supportive, analysts said.
On the New York Mercantile Exchange, July crude CLN1 expired and settled at $93.40 a barrel, gaining 14 cents, or 0.15 percent, trading $92.50 to $94.74.
CBOT-SOYBEANS-U.S. soybean futures on the Chicago Board of Trade closed higher for a second day, lifted by weakness in the dollar and short-covering following recent declines, traders said.
U.S. dollar index fell as the euro rose ahead of a confidence vote in Greece aimed at avoiding a messy default of its sovereign debt. USD/ A weak dollar makes grains and other dollar-denominated goods more competitive on the world market and tends to promote buying by investors seeking a hedge against inflation.
Soybeans also drew spillover strength from the corn market, which rose on bargain buying after falling to a one-month low last week.
FCPO-JAKARTA, June 21 (Reuters) - Malaysian palm oil futures extended earlier gains to close almost 1 percent higher on Tuesday, as firmer comparative oils and improving short-term demand expectations supported prices.
The benchmark September crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange ended 0.9 percent higher at 3,221 Malaysian ringgit ($1,058) a tonne, after hitting an earlier high at 3,230 ringgit.
Traders said that in the short-term, the approaching Muslim festival of Ramadan in August is likely to result in an uptick in demand from July onwards.
REGIONAL EQUITIES-BANGKOK, June 21 (Reuters) - Southeast Asian stock markets gained on Tuesday as hopes for a solution to Greece's debt problems buoyed sentiment across Asia, while a rebound in global crude prices lifted resource shares.
The markets in Singapore .FTSTI and Indonesia .JKSE climbed more than 1 percent, on top of a small rise on Monday. Thai stocks .SETI jumped 1.4 percent, ending a four-day fall.
Malaysia .KLSE inched up 0.1 percent, Philippine shares .PSI added 1.4 percent and Vietnam .VNI jumped 2.6 percent.
The region's gains were supported by flows of foreign funds into most markets, led by $97 million for Malaysia, on top of $303 million in the past seven sessions.
Singaporean property developers CapitaLand CATL.SI and Keppel Land KLAN.SI outperformed as some investors saw value in their stock prices after a steep sell-down last week. CapitaLand rose 3.3 percent and Keppel jumped 4.6 percent
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