Ruble hits fresh lows against dollar after OPEC decision

The Russian ruble dropped to a new all-time low against the U.S. dollar on Friday while other oil-related currencies also got crushed a day after the Organization of the Petroleum Exporting Countries did nothing to alleviate an oil glut.

The dollar bought 7.0215 Norwegian krone USDNOK, +1.49%  versus 6.939 krone late Thursday, marking its strongest level versus the Norwegian currency since March 2009. The krone’s weakness came even as Norway’s unemployment rate fell to 2.6% in November and retail sales grew 0.6% in October, noted Charalambos Pissouros, senior technical analyst at IronFX, on Friday. 3

The dollar rose 0.7% versus the Canadian dollar USDCAD, +0.74%   to fetch C$1.1426

The euro EURUSD, -0.13%  fell 0.1% versus the dollar to $1.2443, while the ICE dollar index DXY, +0.24%  , a measure of the U.S. unit against a basket of six major rivals, rose 0.8% to 88.337.

The dollar USDJPY, +0.78%  was at ¥118.66, up from ¥117.74 late Thursday in New York.

Platinum market Update

January platinum PLF5, -2.31% fell $17, or 1.4%, to $1,211.30 an ounce, while March palladium PAZ4, +0.98% the most actively traded contract for the metal, rose $10.80, or 1.3%, to $813.30 an ounce.

Oil plunges to five-year low amid fears of growing glut

Oil futures on Friday settled at their lowest in five years as the Organization of the Petroleum Exporting Countries’ decision to keep crude production the same heightened fears that the existing glut in the oil market would persist.

 sweet crude futures for delivery in January CLF5, -10.45%  was off $7.54, or 10%, to settle at $66.15 a barrel on Friday.

January Brent crude LCOF5, -3.53%  on London’s ICE Futures exchange fell $2.43, or 3.4%, to finish at $70.15 a barrel. That was Brent’s lowest settlement since May 25, 2010.

Gold could face its own OPEC moment as Swiss referendum nears

Gold prices took a dive on Friday as the market geared up for what could be the metal’s own OPEC moment — when Switzerland will vote on whether its central bank should hold more gold and bring back its other gold reserves held in places like Canada and the U.K.

December gold GCZ4, -2.60%  fell $21.40, or 1.8%, to $1,175.20 an ounce, while silver SIZ4, -7.15%  tumbled $1.06 cents, or 6.4%, to $15.49 an ounce. U.S. markets took a holiday on Thursday and closed early on Friday at the Chicago Mercantile Exchange.

Market Closing Update

MALAYSIAN shares ended lower on Friday with the Kuala Lumpur Composite Index slipping 9.02 points to close at 1,820.89.

Some 1.87 billion lots, valued at RM1.99 billion were traded. Gainers numbered 241 while losers numbered 609.

KLSE Stock Recommendations

MARKET UPDATES :

Number forecast operator Magnum Bhd’s earnings fell 29.8% to RM45.42mil in the third quarter ended Sept 30, 2014 from RM64.77mil a year ago due to losses incurred by its investment holdings segment, mainly attributed to fair value losses of quoted investments. It said on Thursday its pre-tax profit fell 3.2% to RM74.72mil from RM77.12mil. Revenue fell 4.6% to RM669.98mil from RM702.39mil. Earnings per share were 3.2 sen compared with 4.6 sen. It rewarded shareholders with a dividend of 5 sen per share.



STOCK RECOMMENDATION :

BUY KLCC PROP ABOVE 6.890 TARGET 6.940 7.000 SL 6.810

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was down 0.22% to 1.2478, off session highs of 1.2522. The euro was slightly lower against the dollar on Thursday after data showed that the annual rate of inflation in Germany slowed to almost a five year low this month, fuelling concerns over the risk of deflation in the euro area.Germany’s consumer price index rose just 0.6% this month, data on Thursday showed, down from 0.8% in October. On a month-over-month basis, prices were flat. Investors were looking ahead to preliminary data on euro zone inflation due to be released on Friday. The annual rate of inflation in the euro zone fell to 0.4% in October, well below the ECB’s target of close to but just under 2%.

INTRADAY OUTLOOK
Support: 1.2437
Resistance: 1.2492

RECOMMENDATION:
1. Buy EUR/USD Above 1.2495-TG:1.2515/1.2545 SL 1.2465
2. Sell EUR/USD Below 1.2430-TG:1.2410/1.2380 SL 1.2460

INTRADAY OUTLOOK
Immediate Support: 117.95
Immediate Resistance: 118.65

RECOMMENDATION:
1. Buy USD/JPY Above 118.67-TG:118.87/119.13 SL 118.37
2. Sell USD/JPY Below 117.92-TG:117.72/117.42 SL 118.28

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in early Asian trade on Friday with investors focused on demand cues from Switzerland and year-end holiday sales. On the Comex division of the New York Mercantile Exchange,gold future for February delivery traded at $1,189.50 a troy ounce, down 0.06%. Overnight, gold prices inched lower on Thursday, as trading conditions remained thin with markets in the U.S. closed for the Thanksgiving Day holiday.

TRADING STRATEGY :

SELL GOLD BELOW 1180 TARGET 1170 1160 SL 1190
BUY GOLD ABOVE 1193 TARGET 1203 1213 SL 1183

Ruble, loonie driven lower after OPEC keeps output target

The currencies of Russia, Norway and Canada dropped against the U.S. dollar, with the oil-producing countries feeling the weight of a decision by the Organization of the Petroleum Exporting Countries not to cut its production target.

The dollar fetched 6.939 Norwegian krone USDNOK, +0.32% up from 5.979 krone on Wednesday. “Norway derives nearly 70% of its exports from crude oil and petroleum products, representing 20% of GDP, so changes in the price of oil have a massive impact on the nordic nation’s economy,” said Forex.com in a note earlier this month.

The greenback after the OPEC statement bought 1.134 Canadian dollars USDCAD, +0.14%  from 1.124 Canadian dollars in the previous session.

Meanwhile, the euro EURUSD, -0.15%  was at $1.2477, down from $1.2509 on Wednesday, and the pound GBPUSD, -0.17%  bought $1.5724, less than $1.5792 in the previous session. The dollar traded at 117.73 Japanese yen USDJPY, +0.45% little changed from ¥117.74.

The dollar index DXY, +0.14% a measure of its strength against a basket of six rival currencies, rose 0.3% to 87.992.

Gasoline Market Update

Gasoline RBF5, -5.84%  for January tanked 5.6% to $1.90 a gallon, while heating oil for the same month HOF5, -4.49%  slid 4.4% to $2.22 a gallon.

Oil sinks below $68 as OPEC keeps output target unchanged

Crude oil prices sank to a four-and-a-half year low on Thursday, on news that OPEC has kept its production levels unchanged. Hopes for a cut in output had all but faded after a Saudi Arabian oil minister’s comments a day prior.


Extending losses on the New York Mercantile Exchange, light, sweet crude futures for delivery in January CLF5, -6.51% sank to as low as $67.75 a barrel during European afternoon trading hours, touching the lowest level since May 2010. The contract was down $4.58, or 6.2%, at $69.11 a barrel at the latest.

January Brent crude LCOF5, -0.22%  on London’s ICE Futures exchange fell $4.71, or 6.1%, to $73.04 a barrel.
Extending losses on the New York Mercantile Exchange, light, sweet crude futures for delivery in January CLF5, -6.55% sank to as low as $67.75 a barrel during European afternoon trading hours, touching the lowest level since May 2010. The contract was down $4.58, or 6.2%, at $69.11 a barrel at the latest.

January Brent crude LCOF5, -0.25%  on London’s ICE Futures exchange fell $4.71, or 6.1%, to $73.04 a barrel.

Commodity Market Update

A six-thousand year old bubble, ”shiny Bitcoin,” and something that no self-respecting central bank should hold in reserves ever.

While gold bugs are hoping for a “yes” vote, most analysts don’t see that happening. December gold GCZ4, -1.14% which traded around $1 lower to $1,195.60 an ounce on Thursday in electronic trading, with U.S. physical markets closed for Thanksgiving Day, has seen a choppy year, which has left prices more or less flat.

Asian Market Update

Asian markets mostly fell Friday, with energy firms taking a dive as oil sat at four-year lows after the Opec cartel ignored calls to cut production in response to plunging prices and a supply glut.

Sydney's ASX/S&P 200, the home of energy giants such as BHP Billiton, Woodside and Santos, took a huge hit as investors fled to the sidelines, although regional airlines benefited from the prospect of cheap fuel.

The index tumbled 1.34 per cent, Seoul lost 0.16 per cent and Hong Kong shed 0.24 per cent, while Shanghai was flat. However, Tokyo climbed 0.94 per cent thanks to a weakening yen.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 9.62 points to 1820.57.

Volume was 44.13 million lots worth RM19.28 million.

Losers outnumbered gainers 105 to 52.

Market Closing Update

MALAYSIAN shares ended lower on Thursday with the Kuala Lumpur Composite Index slipping 12.26 points to close at 1,829.91.

Some 1.55 billion lots, valued at RM1.36 billion were traded. Gainers numbered 252 while losers numbered 567.

KLSE Stock Recommendations

MARKET UPDATES :

Cahya Mata Sarawak Bhd’s pre-tax profit for the third quarter ended September 30, 2014 soared to RM104.18 million from RM62.53 million in the same period last year. Revenue grew to RM413.07 million from RM335.4 million previously. In a filing to Bursa Malaysia, the infrastructure facilitator attributed the solid performance to its cement, construction and road maintenance, construction materials and trading divisions. Group managing director, Datuk Richard Curtis, said the company was one of the best proxy-listed investments for Sarawak’s accelerating economic growth.



STOCK RECOMMENDATION :

BUY YTL CORP ABOVE 1.590 TG 1.630 1.710 SL 1.510

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KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.28% at 1.2509, up from a session low of 1.2444 and off a high of 1.2531. The pair was likely to find support at 1.2372, Monday’s low, and resistance at 1.2600, last Wednesday’s high.The euro firmed against the dollar on Wednesday after a mixed bag of U.S. data left investors questioning the strength of U.S. recovery and the timing of Federal Reserve rate hikes next year. It was the highest level since early September, confounding market calls for a decrease of 5,000.Finally, data showed that sales of new homes rose 0.7% in October to an annual rate of 458,000 units, but pending home sales unexpectedly fell 1.1% last month.Elsewhere, the euro was down against the pound.


INTRADAY OUTLOOK
Support: 1.2483
Resistance: 1.2530

RECOMMENDATION:
1. Buy EUR/USD Above 1.2532-TG:1.2552/1.2582 SL 1.2502
2. Sell EUR/USD Below 1.2480-TG:1.2460/1.2430 SL 1.2510

INTRADAY OUTLOOK
Immediate Support: 117.31
Immediate Resistance: 117.89

RECOMMENDATION:
1. Buy USD/JPY Above 117.91-TG:118.11/118.41 SL 117.61
2. Sell USD/JPY Below 117.29-TG:117.09/116.79 SL 117.59

KLSE Gold Recommendations

INTERNATIONAL COMMODITY NEWS :
• Gold held mostly steady in early Asia on Thursday ahead of a holiday in the U.S. that will shut markets, but also marks the start of the year-end shopping season that is key for demand. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded down $1,198.00 a troy ounce, flat, after hitting an overnight session low of $1,194.70 and off a high of $1,201.50.

TRADING STRATEGY :
SELL GOLD BELOW 1191 TARGET 1181 1171 SL 1201
BUY GOLD ABOVE 1205 TARGET 1215 1225 SL 1195

S&P 500, Dow score record close ahead of Thanksgiving break

The S&P 500 and Dow Jones Industrial Average ended slightly higher on Wednesday, scoring their 47th and 30th record closes this year, respectively.

The S&P 500 SPX, +0.28%  closed 5.74 points, or 0.3%, higher at 2,072.77. The Dow Jones Industrial Average DJIA, +0.07%  added 12.81 points, or 0.1%, to 17,827.75.

Dollar index extends losses on weak U.S. data

The ICE U.S. Dollar Index extended its losses Wednesday after a stream of weak economic data released over the past two days implied that U.S. economic growth won’t be as strong in the fourth quarter as it was in the third.

The dollar index DXY, -0.04% a measure of its strength against a basket of six rival currencies, was down 0.32% on the day to 87.6290, it’s lowest level since last Thursday.

The euro EURUSD, +0.00% which is the most heavily-weighted of the dollar index’s components, traded at $1.2514, compared with $1.2477 Tuesday.

The dollar JPYUSD, +0.34%  traded at 117.71 yen, compared with ¥117.85 Tuesday.

Platinum Market Update

January platinum PLF5, -0.55%  settled higher by $3.90, or 0.3%, at $1,228.40 an ounce, while December palladium PAZ4, -0.61%  finished up by $6, or nearly 0.8%, at $801.60 an ounce. High-grade copper for December delivery HGZ4, +0.22%  settled unchanged at $2.96 a pound.

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Gasoline Market Update

Nymex reformulated gasoline blendstock for January RBF5, -1.95%   — the benchmark gasoline contract — ended little changed at $2.01 a gallon.

 January natural gas NGF15, -0.07%  lost 4 cents to $4.36 per million British thermal units.

Oil ends at four-year low ahead of OPEC meeting

Crude-oil futures extended their slide Wednesday, ending at a four-year low on expectations the Organization of the Petroleum Exporting Countries won’t move to significantly cut oil production.

Sweet crude futures for delivery in January CLF5, -1.19%  declined 40 cents to close at $73.69 a barrel, continuing to plumb levels last seen by a most-active contract in September 2010. January Brent crude LCOF5, -1.56%   on London’s ICE Futures exchange slid 54 cents to $77.80 a barrel.

Gold ends lower, still flirting with $1,200 level

Gold prices edged down Wednesday in muted, pre-Thanksgiving trade, catching their breath after a solid advance so far this month.

December gold GCZ4, -0.73% finished down 50 cents, or less than 0.1%, at $1,196.60 an ounce, continuing to hold below the key $1,200 level. It’s up 2.1% in the month to date, having dipped just 0.1% so far in this holiday-shortened week. Meanwhile, December silver SIZ4, -2.07%  settled unchanged at $16.55 an ounce.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) down 0.7% 
 Hong Kong (Hang Seng Index) down 0.4% 
 Shanghai (Shanghai Composite Index) up 0.4% (at break) 
 Sydney (S&P/ASX 200) up 0.1% 
 Seoul (Kospi) up 0.2% 
Mumbai (Sensex) flat 
 Taipei (Taiex) up 0.6%

Asian Market Update

Asian stocks were mixed in lacklustre trade Thursday, while oil prices extended their losses ahead of a pivotal OPEC meeting expected to maintain the cartel's production levels despite a huge glut.

Tokyo stocks were down 0.29 per cent by the morning break as the yen gained ground against the dollar in subdued trade ahead of the Thanksgiving holiday, which will see US markets closed Thursday and open for shortened trade on Friday.

Hong Kong gained 0.45 per cent at the opening bell, Sydney edged up 0.2 per cent and Shanghai rose 0.53 per cent. Seoul was up 0.46 per cent.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 4.41 points to 1838.20.

Volume was 24.06 million lots worth RM9.19 million.

Losers outnumbered gainers 70 to 63.

Market Closing Update

MALAYSIAN shares ended higher on Wednesday with the Kuala Lumpur Composite Index adding 3.61 points to close at 1,842.17.

Some 1.73 billion lots, valued at RM1.47 billion were traded. Gainers numbered 321 while losers numbered 452.

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.25% at 1.2472, up from a session low of 1.2403 and off a high of 1.2486. The pair was likely to find support at 1.2372, Monday’s low, and resistance at 1.2600, last Wednesday’s high.The euro firmed against the dollar on Tuesday after a poor U.S. consumer confidence report offset upbeat economic growth data and sent investors selling the greenback for profits.The Conference Board market research group reported earlier that consumer confidence index fell to 88.7 this month from a 94.1 in October, whose figure was revised down from a previously reported 94.5. The dollar has rallied in recent weeks on expectations for U.S. monetary policy to grow less accommodative while European and Asian central banks move in the opposite direction.


INTRADAY OUTLOOK
Support: 1.2440
Resistance: 1.2505

RECOMMENDATION:
1. Buy EUR/USD Above 1.2507-TG:1.2527/1.2557 SL 1.2477
2. Sell EUR/USD Below 1.2438-TG:1.2418/1.2388 SL 1.2468

INTRADAY OUTLOOK
Immediate Support: 117.64
Immediate Resistance: 118.11

RECOMMENDATION:
1. Buy USD/JPY Above 118.13-TG:118.33/118.63 SL 117.83
2. Sell USD/JPY Below 117.62-TG:117.42/117.12 SL 117.92

KLSE Stock Recommendations

MARKET UPDATES :

Malaysia’s budget deficit could fall below 3 percent of gross domestic product in 2015, the International Monetary Fund said on Monday after it concluded a mission to the Southeast Asian nation. Malaysia narrowed the fiscal deficit to 3.9 percent of GDP in 2013, and Prime Minister Najib Razak wants to further trim the gap to 3.5 percent this year and 3 percent in 2015, heading toward a balanced budget by 2020.



STOCK RECOMMENDATION :

BUY SAPURA KENCANA ABOVE 3.270 TGT 3.310 ,3.370 SL 3.210

S&P Market News Update

True to seasonal form, November has been a strong month for the U.S. markets.

The S&P 500 and the Dow industrials have taken flight, reaching uncharted territory, while the small- and mid-cap benchmarks have come to life technically.

Before detailing the U.S. markets’ wider view, the S&P 500’s hourly chart highlights the past two weeks.

As illustrated, the S&P has extended its uptrend, rising to another all-time high.

From current levels, first support holds at the breakout point — S&P 2,056 — and is followed by a deeper floor at 2,040.

Dollar weakens against rivals after consumer-confidence data

Surprisingly weak consumer confidence data pushed the dollar lower against the yen, euro and pound Tuesday as investors worried that consumers might be tamping down spending ahead of the holiday shopping season.

The ICE Dollar Index DXY, +0.04%  , a measure of the greenback’s strength against a basket of six rival currencies, was down 0.30% to 87.8940, trading below the 88.0000 level for the first time since Friday.

The euro EURUSD, -0.03% traded at $1.2473, compared to $1.2430 late Monday. The shared currency is the most heavily-weighted component of the dollar index.

Elsewhere, the dollar USDJPY, -0.13%   traded at 117.99 yen, surrendering its gains from Monday’s session and returning to its Friday level. It traded at ¥118.29 Monday afternoon.

Silver and Platinum Market Update

December silver SIZ4, +0.13%  settled higher by 17 cents, or 1%, at $16.55 an ounce.

Platinum PLF5, -0.28%   was down $19.80, or 1.61%, to $1,208 and Palladium PAH5, -0.26%  was off about 0.6% , or $4.80, to trade at $789.75.

Oil drops to 4-year low as traders await OPEC

Oil futures slumped to their lowest close in more than four years Tuesday, as traders grew more doubtful the Organization of the Petroleum Exporting Countries will deliver meaningful` production cuts when cartel officials meet later this week.

Nymex WTI crude for January delivery CLF5, -0.04%  dropped $1.69, or 2.2%, to close at $74.09 a barrel, the lowest finish for a most-active futures contract since September 2010. ICE January Brent LCOF5, +0.09%  dropped $1.35, or 1.7%, to $78.33 a barrel.

Gold shines up, but melts above $1,200

Gold futures settled slightly higher Tuesday, yet couldn’t hold its price above the $1,200 level that many traders have watched carefully.

December gold futures GCZ4, +0.05% settled up by $1.40, or 0.1%, at $1,197.10 an ounce, after briefly punching above the $1,200 mark.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) flat 
 Hong Kong (Hang Seng Index) up 0.1% 
 Shanghai (Shanghai Composite Index) up 0.5% (at break) 
 Sydney (S&P/ASX 200) up 0.7% 
 Seoul (Kospi) up 0.1% 
 Mumbai (Sensex) down 0.1% 
 Taipei (Taiex) up 0.1%

Asian Market Update

Asian markets were mostly higher Wednesday following better-than-expected US economic growth data and news that Germany had narrowly averted recession.

The dollar struggled to resume its uptrend against the yen, with analysts forecasting the pairing were close to finding their plateau.

Tokyo fell 0.27 per cent owing to the stronger yen, but Hong Kong added 0.13 per cent, Sydney rose 0.87 per cent and Shanghai gained 0.46 per cent. Seoul was flat.

The gains came despite a weak lead from Wall Street, where the Dow and S&P 500 retreated slightly from record highs.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened higher on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 1.95 points to 1840.52.

Volume was 30.95 million lots worth RM11.72 million.

Gainers outnumbered losers 99 to 61.

Market Closing Update

MALAYSIAN shares ended higher on Tuesday with the Kuala Lumpur Composite Index adding 4.79 points to close at 1,838.56.

Some 2.09 billion lots, valued at RM2.46 billion were traded. Gainers numbered 308 while losers numbered 476.

KLSE Stock Recommendations

MARKET UPDATES :

WCT Holdings Bhd’s pre-tax profit for the third quarter ended Sept 30, 2014 fell to RM32.37 million from RM59.89 million in the same period last year.Revenue, however, rose to RM471.11 million from RM418.51 million previously. In a filing to Bursa Malaysia, the company said operational profit from its property development, investment, civil engineering and construction segments posted lower operational profit mainly due to lower project margin.



STOCK RECOMMENDATION :

BUY SAPURA KENCANA ABOVE 3.260 TARGET 3.300 3.350 SL 3.200

KLSE IForex Recommendations

TRADING TIPS :

EUR/USDwas up 0.31% at 1.2429, up from a session low of 1.2363 and off a high of 1.2443. The pair was likely to find support at 1.2503, last Thursday’s low, and resistance at 1.2600, last Wednesday’s high. The euro firmed against the dollar on Monday after an upbeat German business climate report surpassed expectations and offset ongoing expectations for the European Central Bank to loosen policy in the near future.The single currency found support after a report showed that German business sentiment improved this month after six successive months of declines, indicating that the downturn the euro area’s largest economy may be ending.



INTRADAY OUTLOOK
Support: 1.2397
Resistance: 1.2443

RECOMMENDATION:
1. Buy EUR/USD Above 1.2445-TG:1.2464/1.2495 SL 1.2415
2. Sell EUR/USD Below 1.2395-TG:1.2375/1.2345 SL 1.2425

INTRADAY OUTLOOK
Immediate Support: 117.72
Immediate Resistance: 118.34

RECOMMENDATION:
1. Buy USD/JPY Above 118.36-TG:118.56/118.86 SL 118.06
2. Sell USD/JPY Below 117.70-TG:117.50/117.20 SL 118.00

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices held steady to higher in Asia on Tuesday with investors looking for any cue on physical demand ahead of end-year holidays. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,198.20 a troy ounce, up 0.08%.Overnight, gold prices held steady on Monday, supported by softer dollar and a Chinese decision to trim interest rates, though uncertainty ahead of Tuesday’s economic growth and consumer confidence reports capped gains.

TRADING STRATEGY :

BUY GOLD ABOVE 1204 TARGET 1214 1228 SL 1194
SELL GOLD BELOW 1189 TARGET 1179 1170 SL 1199

S&P Market News Update

The S&P 500 and Dow Jones Industrial Average closed at record levels on Monday, but it was the small-caps and the Nasdaq Composite who stole the show.

The S&P 500 SPX, +0.29%  closed 5.91 points, or 0.3%, higher at 2,069.41, the 46th time it closed at record level this year. Consumer discretionary and tech sector stocks led the gains. The heaviest-weighted company on the index, Apple, Inc. rose 1.9%, helping lift the benchmark.

Dollar shows gains against yen after two sessions of losses

The dollar moved higher against the yen Monday after falling for two consecutive sessions, as investors prepared for the release of minutes from October’s Bank of Japan meeting Monday evening.

The dollar USDJPY, -0.33%  traded at 118.25 yen, compared to ¥117.82 late Friday.

A euro EURUSD, -0.13%  traded for $1.2444 Monday, compared to $1.2390 late Friday.

The pound GBPUSD, -0.14%   traded flat at $1.5707. Lien said that investors saw a small rebound in the pound today as investors adjust positions, but noted that there’s really nothing substantive moving trading. The pound traded at $1.5658 Friday.

The ICE U.S. Dollar Index DXY, +0.02% a measure of the greenback’s strength against a basket of six currencies, was down 0.22% to 88.1110 late Monday.

Gasoline and Gas Market Update

A return to warmer weather in the U.S. put pressure on natural gas futures, with the December contract NGZ14, +0.07%  plummeting 11 cents or 2.7%, to end at $4.1510 per million British thermal units.

December gasoline RBZ4, -0.12%  lost 2 cents, or 1.1%, to settle at $2.0334 a gallon on Nymex. December heating oil HOZ4, +0.10%  fell less than a penny, or 0.4%, to $2.3955 a gallon, also on Nymex.

Oil futures slip ahead of closely watched OPEC meeting

Oil futures drifted lower Monday after the deadline for talks over Iran’s nuclear programs was extended and investors debated whether the Organization of the Petroleum Exporting Countries will move to alleviate a global supply glut by cutting production.

Light, sweet crude for January delivery CLF5, +0.04%  fell 73 cents, or 1%, to settle at $75.78 a barrel on the New York Mercantile Exchange. That put a stop to a two-session winning streak.

Gold may see ‘decent recovery’ to $1,400

Gold futures wavered around the break-even mark Monday, largely holding on to Friday’s gains that were sparked by central-bank news from China and Europe. Despite gold’s lackluster moves over the past several months, at least one analyst speculated that the yellow precious metal may recover to $1,400 an ounce by 2016.

December gold futures GCZ4, +0.03%   were last up 20 cents, or less than 0.1%, to $1,197.90 an ounce, while December silver SIZ4, +0.64%   edged up a penny, also less than 0.1%, to $16.41 an ounce.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) up 0.2% 

 Hong Kong (Hang Seng Index) down 0.1% 

 Shanghai (Shanghai Composite Index) up 0.7% 

 Sydney (S&P/ASX 200) down 0.7% 

 Seoul (Kospi) down 0.1% 
 Taipei (Taiex) up 0.2%

Asian Market Update

Asian markets were mixed on profit-taking Tuesday after a Chinese rate cut fuelled a rally in the previous session, while Tokyo played catch-up following a long weekend.

The euro was treading water after getting a lift on Monday from data showing German business confidence rose in November for the first time in seven months.

Tokyo rose 0.34 per cent after a long weekend, while Seoul was flat and Sydney lost 0.76 per cent. Hong Kong slipped 0.27 per cent and Shanghai added 0.24 per cent.

Traders largely took their foot off the pedal after Monday's surge that came on the back of China's surprise decision last week to slash interest rates for the first time in two years in a bid to kickstart growth in the Asian economic powerhouse.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.79 points to 1833.49.

Volume was 54.6 million lots worth RM20.2 million.