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Asian markets fell Monday as a relentless plunge in oil prices exerted downward pressure, while investors in Japan shrugged off Prime Minister Shinzo Abe's decisive re-election and focussed instead on the faltering economy.
Sydney shed 0.89 per cent as a hostage crisis erupted in the heart of the city, with terrified people cowering inside a cafe where an Islamic flag was displayed against a window, sparking a security lockdown in an area home to government and corporate headquarters.
In early trade Hong Kong lost 1.12 per cent, Shanghai slipped 1.14 per cent and Seoul was 0.66 per cent lower.
Tokyo dropped 1.31 per cent by noon after Abe's widely expected election win in a snap poll on Sunday that he had billed as a referendum on his economic policies.
MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 18.85 points to 1715.87.
Volume was 51.02 million lots worth RM20.53 million.
Losers outnumbered gainers 250 to 25.
The dollar recorded a 10.5% weekly gain against the ruble Friday, its largest in six weeks, as West Texas Intermediate crude extended its decline — dropping as low as $57.34 a barrel, at one point.
The buck also gained 3% against the Norwegian krone, 1.18% against the Canadian dollar and 2.6% against the Brazilian real in the past week.
January platinum PLF5, -1.16% fell $10.70, or 0.9%, to $1,231.50 an ounce, while March palladium PAH5, -0.64% shed $3.05, or 0.4%, to $816.55 an ounce.
High-grade copper for March delivery HGH5, +0.29% edged up a penny to $2.93 a pound.
Nymex gasoline for January delivery RBF5, -1.91% fell 2 cents, or 1%, to $1.61 a gallon.
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Crude-oil futures fell to their lowest since May 2009 on Friday, briefly dropping below $57 a barrel, after the International Energy Agency delivered the latest reduction in forecasts for global oil demand.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in January CLF5, -4.10% fell $2.14, or 3.6%, to settle at $57.81 a barrel.
On Friday, oil changed hands for as little as $57.34 a barrel, and the settlement was the lowest since May 15, 2009.
January Brent crude on London’s ICE Futures exchange LCOF5, -3.22% fell $1.83, or 2.9%, to end at $61.85 a barrel on Friday. On the week, Brent lost 10%. Friday’s settlement was the lowest since July 14, 2009.
