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 0.9% (at break) 
 Shanghai (Shanghai Composite Index) up 1.2% (at break) 
 Sydney (S&P/ASX 200) down 1.5% 
 Seoul (Kospi) down 0.4% 
 Mumbai (Sensex) flat 
 Taipei (Taiex) down 0.5%

Malaysia: Shares open lower on Tuesday

MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 4.10 points to 1736.74.

Volume was 69.72 million lots worth RM27.98 million.

Losers outnumbered gainers 144 to 62.

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.