Asian stocks were mixed ahead of US corporate earnings announcements, while oil prices fluctuated under the influence of remarks by President Trump and geopolitical risks.
Asian equity markets were mixed ahead of US corporate earnings announcements. Oil prices fell after reports that US President Trump had announced an energy ceasefire agreement between Russia and Ukraine, while a new wave of attacks involving Saudi Arabia partly offset market concerns. Trading was subdued, partly because Japanese markets were closed for a public holiday.
South Korea's market could not avoid a sharp fall, with the KOSPI closing down 3.65% from the previous day after losing 241.69 points. China's Shanghai Composite fell 0.43%, while Hong Kong's Hang Seng Index rose 0.2%. Markets in Sydney, Singapore, Wellington and Manila rose, while the Taipei market fell under pressure from declines in semiconductor stocks.
Investors are focused on data such as US inflation indicators and retail sales, which are seen as potentially affecting the Federal Reserve's policy decision at the end of October. Earnings announcements from JPMorgan, Goldman Sachs and Bank of America are scheduled for this week, while attention is also focused on the prospects for AI-related investment, particularly in technology stocks.
In corporate news, semiconductor giant TSMC expects to report a sixth consecutive quarterly record profit in its earnings announcement on 15 October, while ASML is scheduled to report earnings on 14 October. Vietnam's VN Index fell 0.81%, while the HNX Index rose 1.18%.