FTSE 100 LIVE: Asian markets mixed as oil retreats from recent highs

Asian sharemarkets were mixed on Monday as investors weighed easing oil prices against continuing Middle East tensions, a weak Wall Street lead and a busy week of central bank decisions and major US technology earnings.

Oil pulled back after surging last week, with Brent crude around US$114.45 a barrel and West Texas Intermediate near US$101, while gold traded around US$4,013 an ounce.

ASX finishes higher

The S&P/ASX 200 recovered from an early fall to finish around 0.2% higher at 8,814.2, after dropping as low as 8,722.9 during the session.

Mining stocks helped drive the recovery, with BHP Group and Fortescue gaining ground as investors returned to resources following last week’s heavy selling.

Zip Co was among the strongest individual performers, jumping 13%, while PLS Group gained 9% and AP Eagers added 7%.

Japan edges lower

Japan’s Nikkei 225 slipped 0.2% to around 62,596, extending a difficult run for the market after last week’s losses.

Investors remained cautious ahead of major global central bank meetings and US technology earnings, while elevated energy prices continued to cloud the inflation outlook.

South Korea remains under pressure

South Korea’s Kospi traded lower late in the session, falling around 1% after a volatile start that briefly saw the index return to positive territory.

The market has been particularly volatile through October, with semiconductor heavyweights remaining in focus ahead of results from SK Hynix and Samsung Electronics.

China and Hong Kong recover

Mainland Chinese shares recovered from an early decline, with the Shanghai Composite edging around 0.2% higher to about 3,696 during afternoon trade.

Hong Kong performed better, with the Hang Seng up around 0.4% to 23,194 as it extended Friday’s rebound.

India rebounds from weak open

Indian equities also recovered after opening sharply lower, with the Sensex and Nifty moving back towards flat territory by late morning.

The Sensex was around 73,096 and the Nifty near 22,607 after earlier dropping more than 500 points and 190 points respectively.

Wall Street and oil in focus

The mixed Asian session followed another weak finish on Wall Street on Friday, where the Dow Jones fell 1.2%, the S&P 500 lost 0.5% and the Nasdaq eased 0.2%.

Attention this week turns to US technology earnings, the Federal Reserve and inflation data, while developments in the Middle East and their impact on oil supplies remain a major source of volatility for global markets.