Asian Stocks Trade Cautiously as Brent Slips 1.6% From 6-Month High
Updated
Updated · Reuters · Oct 26
Asian Stocks Trade Cautiously as Brent Slips 1.6% From 6-Month High
3 articles · Updated · Reuters · Oct 26
Summary
Brent fell 1.6% to $114.88 and U.S. crude dropped 1.9% after reports Qatari mediators were in Tehran with U.S. coordination to ease regional tensions.
Asian equities stayed defensive despite the pullback in oil: Japan’s Nikkei lost 0.5%, South Korea’s benchmark fell 1.1%, MSCI’s Asia-Pacific ex-Japan index eased 0.1%, and China’s blue chips slid 1.0%.
Central banks are the next test for markets, with the Fed, BOJ and ECB expected to hold this week while New Zealand is widely seen hiking and markets price an 80% chance of a Fed move in December.
Corporate earnings add another pressure point, with Amazon, Microsoft and Alphabet leading a week in which about one-third of S&P 500 companies report and investors gauge whether AI-driven spending can justify valuations.
Oil remains the key macro risk after Brent jumped 6.2% last week on supply fears, while Brazil’s election and China’s fifth plenum add to a broader backdrop of political and growth uncertainty.