Asian Market Update

Oil prices fell further on Wednesday, heading to six-year lows, while crude's weakness continues to test investor confidence, pushing the yen up and weighing on Asian equities.

The euro also slipped further after comments from a key member of the European Central Bank fanned expectations that it will unveil a vast bond-buying scheme at its policy meeting next week.

On oil markets US benchmark West Texas Intermediate for February fell 18 cents US$45.71 (S$61), a level not seen since March 2009, and Brent slipped 25 cents to US$46.34, its lowest since April 2009.