Oil above $78

World oil prices edged higher on Monday as traders paused for breath
after prices struck a one-year peak before the weekend. New York's
main contract, light sweet crude for November delivery, rose 24
cents to 78.77 dollars a barrel after ending Friday at 78.53
dollars, the highest closing level since October 2008. Brent North
Sea crude for December delivery added 25 cents to reach 77.24
dollars.

Asian markets mostly higher

Asian markets were mostly higher on Monday although gains on the back
of rising oil prices and a strengthening dollar were weighed on by
weak US corporate data and a tumble on Wall Street. Hong Kong added
1.23 percent and Shanghai was 2.07 percent higher with help from
crude approaching 80 dollars a barrel, which pushed commodities
firms. Seoul rose 0.53 percent and Taipei 0.47 percent, with the
greenback's rebound helping electronics and auto makers. Singapore
was 0.13 percent stronger and Bangkok was two percent higher after
last week's big losses caused by concerns for the health of
Thailand's king. However, Tokyo shed 0.21 percent and Sydney dropped
0.90 percent. Mumbai was closed for a public holiday. TOKYO: Down
0.21 percent. The Nikkei-225 fell 21.05 points to 10 , 236.51.
HONG KONG: Up 1.23 percent. The Hang Seng Index finished up 270.56
points at 22 , 200.46. The index recorded its best finish since
closing at 22 ,514 on August 4 last year and has risen 5.6 percent
in October. SYDNEY: Down 0.90 percent. The SP/ASX200 dropped 43.6
points to 4 ,792.8. SHANGHAI: Up 2.07 percent. The Shanghai
Composite Index, which covers both A and B shares, was up 61.64
points to 3 , 038.27. SEOUL: Up 0.53 percent. The KOSPI gained 8.71
points to 1 , 649.07. Samsung Electronics rose 0.7 percent to 751
,000 won and Hynix Semiconductor added 0.3 percent to 19 ,850 won.
Hyundai Motor added 1.1 percent to 101 ,000 won. TAIPEI: Up 0.47
percent. The weighted index rose 36.22 points to 7 , 751.32.
SINGAPORE: Up 0.13 percent. The Straits Times Index gained 3.58
points to 2 , 711.70. BANGKOK: Up 2.02 percent. The Stock Exchange
of Thailand gained 14.49 points to close at 731. 61. KUALA LUMPUR: Up
0.38 percent. The Kuala Lumpur Composite Index gained 4.72 points
to 1 , 261.49. The market is at a new high for 2009. JAKARTA: Up 0.20
percent. The Jakarta Composite Index gained 5.12 points to 2 ,
520.92. MANILA: Up 0.32 percent. The composite index added 9.38
points to close at 2 , 932.20. WELLINGTON: Up 0.43 percent. The
NZX-50 closed 13.72 points up at 3 , 220.92.