Key facts
- Oil prices eased amid reports of de-escalation efforts in the Middle East.
- Investors anticipate central bank rate decisions from the Fed, BoJ, and ECB this week.
- US core inflation is forecast to remain elevated at 3.1% in September.
- US GDP is forecast to grow at a 3.2% annualised pace.
- Microsoft, Alphabet, and Amazon are among companies reporting earnings this week.
Asian share markets began Monday's session with caution as oil prices retreated from recent six-month highs. Investors are looking ahead to a busy week featuring central bank meetings and corporate earnings reports, which are expected to provide further insight into the sustainability of the AI boom.
Brent crude oil futures fell 1.0% to $115.48 a barrel, following reports that Qatari mediators were in Tehran on Sunday to de-escalate regional tensions in coordination with the United States. Last week, Brent futures had surged 6.2% to their highest weekly close since mid-2022 due to concerns over energy supplies stemming from Houthi attacks in Saudi Arabia.
In Asia, Japan's Nikkei index dipped 0.8%, extending losses from the previous week, while South Korea's market fell 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan eased by 0.1%.