Oil tops $53 a barrel as some bet prices have bottomed out

Crude-oil futures pushed higher Monday, with some investors continuing to bet that oil prices have bottomed out.

U.S. light, sweet crude futures for delivery in March CLH5, +0.49%  rose 38 cents, or 0.7%, to $53.16 a barrel in the Globex electronic session.

Brent crude for April delivery LCOJ5, +0.83%  rose 72 cents, or 1.1%, to $62.24 a barrel on London’s ICE Futures exchange. The recent rally in crude prices has been stronger for Brent than for Nymex West Texas Intermediate, with Brent trading near its highest level so far this year and above $60 a barrel.

Gold prices tick higher as Greece stays in the spotlight

Gold prices traded slightly higher in electronic trading on Monday, with the dollar weak as attention stayed fixed on Greece’s debt talks in Brussels.

Gold for April delivery GCG5, -0.01%  gained $4.30, or 0.3%, to $1,231.40 an ounce in electronic trading. Physical markets are closed in the U.S. for the Presidents’ Day holiday.

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Current Market Update

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

Tokyo (Nikkei Average NIK, -0.06% ) flat 

 Hong Kong (Hang Seng Index HSI, +0.38% ) up 0.3% 

 Shanghai (Shanghai Composite Index SHCOMP, +0.82% ) up 0.8% (at break) 

 Sydney (S&P/ASX 200 XJO, -0.59% ) down 0.5%

 Seoul (Kospi SEU, +0.16% ) up 0.2% 

 Mumbai (Sensex 1, +0.14% ) closed for holiday 

 Taipei (Taiex Y9999, +0.35% ) closed for holiday

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened flat on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.04 points to 1808.41.

Volume was 30.9 million lots worth RM10.16 million.

Gainers outnumbered losers 82 to 44.

Market Closing Update

MALAYSIA share prices closed higher on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 7.94 points to 1,808.89.

Volume was 2.06 billion lots worth RM2.12 billion.

Gainers outnumbered losers 452 to 352.