By Nick Macfie
SINGAPORE (Reuters) - Oil prices rose and Asia stock prices fell on Tuesday as markets watched the growing crisis in Libya, with investors turning to safe haven gold which in turn pushed up silver to its highest level in 31 years.
Japan's Nikkei 225 index <.N225> was down 1.8 percent and the MSCI's index of Asia Pacific shares outside Japan <.MIAPJ0000PUS> was off 0.8 percent.
European stocks lost more than 1 percent on Monday on a combination of fears over Libya, where Muammar Gaddafi faced a mounting revolt against his 41-year rule, signs of imminent interest rate rises and more evidence of a poor earnings season.
U.S. markets were closed for a holiday.
The dollar edged up against a basket of major currencies. The euro traded at $1.3676, continuing to struggle after failing to hold above $1.3700.
The single currency also lacked the vigor to break above key resistance after Germany's main ruling party suffered a crushing defeat at a regional election in the city-state of Hamburg on Sunday.
U.S. crude futures extended gains, with the March contract reaching $94.49 per barrel, the highest for any nearby month since October 2008. Brent crude gained 2 percent to hit a new 2-1/2 year high above $107.
Silver jumped on Tuesday to its highest level since 1980, standing above $34 an ounce, as gold prices gained on the unrest in North Africa and the Middle East.
Gold powered to its highest levels in seven weeks, above $1,408 an ounce, helped along by both inflation fears and risk aversion.
New Zealand's quake-ravaged Christchurch city was struck by a second major tremor in five months on Tuesday, causing "multiple fatalities", police said. The New Zealand dollar fell more than 1 percent and stocks were down 0.8 percent.
(Editing by Alex Richardson)
