Oil rose towards US$95 (S$138) a barrel, steadying from a recent pullback from a record US$96.24 set on Nov 1, while gold held within reach of a 28-year peak of US$810.90 set on Monday.

Analysts said Citigroup's bombshell on Sunday that it faced as much as US$11 billion more in credit losses had mostly been discounted by markets in Monday's selloff.

Japanese stocks have pretty much priced in the Citi news during yesterday's session,' said Mr Kazuhiro Takahashi, general manager of equity marketing at Daiwa Securities SMBC.

TOKYO
Japanese share prices closed slightly lower on Tuesday, giving up early gains amid ongoing concerns about the fallout from the US subprime loan crisis, dealers said.

The Tokyo Stock Exchange's benchmark Nikkei-225 index dropped 19.29 points or 0.12 per cent to 16,249.63.

The broader Topix index of all first-section shares fell 0.54 points or 0.03 per cent to 1,574.59.

SHANGHAI
Chinese share prices were mixed in on Tuesday morning trade, with Shanghai lower on profit taking in PetroChina after it gained 163 per cent in its trading debut the previous session, dealers said.

PetroChina, the country's largest oil and gas producer, lost 3.01 yuan (S$ 0.58) or 6.85 per cent to US$40.95 in the morning session of its second trading day with dual-listed blue chip banks also under pressure, they said.

The Shanghai Composite Index, which covers both A and B shares, ended the morning session down 15.24 points or 0.27 percent at 5,619.21.

On Monday, the Hang Seng Index closed down 1,526.02 points or 5.01 per cent at 28,942.32, the index's largest ever single-day fall, on expected delays to a scheme to allow mainlanders to directly trade stocks in Hong Kong.

Investor worries also centred on China's decision to restrain the growth of domestic mutual funds, which would curb fresh money going into the stock market, dealers said.

The Shanghai A-share Index fell 16.18 points or 0.27 per cent to 5,897.99 while the Shenzhen A-share Index added 15.55 points or 1.08 per cent to 1,458.04.

HONG KONG
Hong Kong share prices finished the morning session higher Tuesday, up 1.28 per cent, in volatile trade as property stocks and China banks attracted bargain-hunting after recent tumbles, dealers said.

The Hang Seng Index closed the morning up 370.67 points at 29,312.99, off a low of 28,479.03 and a high of 29,315.95.

Turnover was at HK$103.23 billion (S$ 19.3 billion).

KUALA LUMPUR
At midday, the Kuala Lumpur Composite Index fell 4.30 points or 0.31 per cent to 1,380.43. -- REUTERS, BERNAMA, AFP