Gold settles at highest level in 5 months

Gold gained for a seventh straight day to settle at its highest price in five months Tuesday, after the Swiss National Bank last week triggered turmoil in currency markets and investors looked ahead to this week’s meeting of the European Central Bank.

Gold for February delivery GCG5, +0.62%  settled up $17.30, or 1.4%, at $1,294.20 an ounce, on the New York Mercantile Exchange. That’s the highest settlement for gold since Aug. 19. The seven-day rally has resulted in a 7.1% rise in gold prices.

Oil resumes losing ways, slides nearly 5% as growth outlook dims

Crude-oil futures settled sharply lower Tuesday as investors weighed a batch of downbeat views on global economic growth, including news that China’s economy expanded at its slowest pace in decades.

Crude futures for delivery in February CLG5, -5.26%  fell $2.30, or 4.7%, to end at $46.39 a barrel.

March Brent crude LCOH5, +0.77%  also succumbed to sellers, falling 85 cents, or 1.7%, to settle at $47.99 a barrel.

Current Market Update

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

Tokyo (Nikkei Average NIK, -0.66% ) down 0.9% 

 Hong Kong (Hang Seng Index HSI, +1.30% ) up 1.2% 

 Shanghai (Shanghai Composite Index SHCOMP, +2.23% ) up 2.2% (at break) 

 Sydney (S&P/ASX 200 XJO, +1.34% ) up 1.3% 

 Seoul (Kospi SEU, -0.17% ) down 0.2%

 Mumbai (Sensex 1, +0.55% ) up 0.2% 

 Taipei (Taiex Y9999, +0.49% ) up 0.4%

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KLSE Malaysia Opening Market Update

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MALAYSIA share prices opened higher on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 2.45 points to 1752.90
Volume was 34.16 million lots worth RM11.62 million.

Gainers outnumbered losers 78 to 35.

Market Closing Update

MALAYSIAN shares ended lower on Tuesday with the Kuala Lumpur Composite Index slipping 3.2 points to close at 1,750.11.

Some 2.05 billion lots, valued at RM2.02 billion were traded. Gainers numbered 418 while losers numbered 391.