S&P Market News Update

Talk about an oil spill. The spectacular unhinging of crude oil prices over the past six months is weighing mightily on the U.S. stock market.

It’s also the second worst week for the S&P 500 this year SPX, -1.62% which was down about 58 points, over the past five trading days, or 2.83%, compared to a cumulative weekly loss of 61.7 points, or 3.14%, during the week concluding Oct. 10.

Current Market Update

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

Tokyo (Nikkei Average) dpwm 1% 

 Hong Kong (Hang Seng Index) down 1% 

 Shanghai (Shanghai Composite Index) down 0.8% (at break) 

Sydney (S&P/ASX 200) down 0.4% 

Seoul (Kospi) down 0.5% 

 Mumbai (Sensex) down 0.5% 

 Taipei (Taiex) down 0.5%

Asian Market Update

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.

KLSE Malaysia Opening Market Update

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.

Dollar rings up largest weekly gain against ruble in 6 weeks

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.