GLOBAL MARKETS-Oil Slides on Mideast Respite, Yen Down as Japan Govt Loses Majority

GLOBAL MARKET - SINGAPORE. The yen hit a three-month low on Monday as Japan's ruling party lost its parliamentary majority, while oil tumbled after Israel's weekend strike on Iran bypassed oil or nuclear targets.

Japan's Nikkei, after initially falling, rose 1.6% and the yen slipped as far as 0.5% to 153.3 per dollar following the ruling Liberal Democratic Party's (LDP) weakest result since 2009 in Japan's weekend election.

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