Palm | Kelapa Sawit

The upbeat response was reinforced by U.S. economic reports showing construction spending and factory activity beat economists' forecasts.

Data showed U.S. manufacturing sector growth accelerated in December at its strongest pace since June, while construction spending in November surged to the highest in nearly 18 months.

The Dow Jones industrial average .DJI rose 179.82 points, or 1.47 percent, to 12,397.38. The S&P 500 Index .INX added 19.46 points, or 1.55 percent, to 1,277.06. The Nasdaq Composite .IXIC gained 43.57 points, or 1.67 percent, to 2,648.72.

NYMEX-NEW YORK, Jan 3 (Reuters) - U.S. crude futures ended more than 4 percent higher on Tuesday, as Iran vowed to act should the U.S. Navy move an aircraft carrier into the Gulf, Tehran's latest warning in response to increased Western sanctions over its nuclear program.

Oil futures also rose on strong U.S. and Chinese economic data that received investors' cheers as they bought into riskier assets, such as oil and equities, to mark an auspicious opening trading day for the new year.

On the New York Mercantile Exchange, crude for February delivery CLG2 settled at $102.96 a barrel, gaining $4.13, or 4.18 percent, the highest settlement since May 10, 2011, when U.S. crude closed at $103.88.

CBOT-SOYBEAN, Soybean futures on the Chicago Board of Trade started the new year on a strong note, surging to a two-month high on worries about Argentine crop weather and a weaker dollar but paring gains by the close.

USDA reported export inspections of U.S. soybeans in the latest week at 34.056 million bushels, above a range of trade estimates for 30 million to 34 million.

Argentina will stay dry in the days ahead, adding to concern that 2011/12 corn and soy crops will be reduced by lack of rain - South American forecasters.

FCPO-JAKARTA, Jan 3 (Reuters) - Malaysian crude palm oil futures rose to a six-week high on Tuesday, buoyed by strong crude prices and expectations of lower output in Southeast Asian producers due to wet weather.

The Malaysian Meteorological Department sees heavy rains in Pahang and Sabah over the coming weekend, which may trigger some floods in these regions that account for about 40-50 percent of national production.

Indonesia and Malaysia, the world's top two producers of palm, are currently in their monsoon season. Traders say this could impact output and prices during the first quarter.

Benchmark March palm oil futures FCPOc3 on the Bursa Malaysia Derivatives Exchange ended 1.6 percent higher at 3,225 Malaysian ringgit ($1,000) per tonne. Prices earlier touched 3,244 ringgit, the highest level since Nov. 21.

REGIONAL EQUITIES-SINGAPORE, Jan 3 (Reuters) - Most Southeast Asian stock markets rose on Tuesday, with risk appetite improving at the start of the new year and as sentiment was boosted by a rally in European stocks and positive Chinese economic data.

An official purchasing managers' index showing that China's manufacturing activities expanded slightly to 50.3 in December from 49 in November also helped to improve the mood, though analysts said the euro zone debt crisis still remains a major drag on global markets.

Singapore stocks .FTSTI outperformed the region, gaining 1.6 percent. Shares of casino operator Genting Singapore GENS.SI surged as much as 4 percent on expectations of stronger earnings, making it the top traded stock by value on the city-state's bourse.

The Chinese New Year, which begins on Jan 23, is expected to lift the company's business as more people try their luck at the gambling tables, traders and analysts said.