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West Texas Intermediate crude-oil futures turned lower on Monday to slip back below $50 a barrel by the close, but prices still narrowed their spread with Brent crude as losses for the European benchmark also worsened.
crude futures for delivery in April CLJ5, +0.73% fell 17 cents, or 0.3%, to settle at $49.59 a barrel. Prices had spent much of Monday’s trading session above the $50 mark, but turned lower in the last half hour of the trading session as losses for Brent crude intensified.
April Brent crude on London’s ICE Futures exchange LCOJ5, +1.49% dropped $3.04, or 4.9%, to settle at $59.54 a barrel.
Gold prices settled lower on Monday, for the first time in four trading sessions, as strength in the U.S. stock market lured investors away from the yellow metal.
Gold for April delivery GCJ5, -0.01% fell $4.90, or 0.4%, to settle at $1,208.20 an ounce on Comex after tallying a gain of roughly 1.3% over the past three trading sessions.
Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average NIK, -0.19% ) down 0.1%
Hong Kong (Hang Seng Index HSI, +0.02% ) flat (at break)
Shanghai (Shanghai Composite Index SHCOMP, -0.92% ) down 0.9% (at break)
Sydney (S&P/ASX 200 XJO, -0.53% ) down 0.7%
Seoul (Kospi SEU, +0.09% ) up 0.1%
Mumbai (Sensex 1, +0.03% ) up 0.1%
Taipei (Taiex Y9999, -0.09% ) down 0.2%
Asian equities stuttered in early trade on Tuesday after healthy gains in the previous session attracted profit-takers, offsetting a strong lead from Wall Street.
Shanghai lost 1.03 per cent after rallying Monday in response to the Chinese central bank's weekend interest rate cut, while Hong Kong pared an initial advance to sit marginally lower.
Tokyo eased 0.21 per cent and Seoul was flat, while Sydney edged up 0.12 per cent ahead of a closely watched interest rate decision by Australia's central bank later in the day.
MALAYSIA share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 3.07 points to 1820.20.
Volume was 65.32 million lots worth RM36.35 million.
Gainers outnumbered losers 123 to 55.
