Asian Share Markets Choppy as Earnings Season Looms and Oil Slips

Stock markets in Asia started Monday on an erratic note as earnings season is set to test high tech valuations, while oil prices slipped amid confusion over whether Russia can increase energy exports.

South Korean stocks fell 3.1% and Taiwanese shares eased 0.2%. MSCI’s broadest index of Asia Pacific shares outside Japan dipped 0.4%, while Chinese blue chips slipped 0.1%. Japanese markets were shut for a holiday and US trading was thin on a partial holiday.

Oil Prices Fall on Supply Confusion

Brent futures slipped 1.3% to $103.38 a barrel, below a recent peak of $109.97, while US crude lost 1.7% to $90.29. President Donald Trump’s energy ceasefire announcement between Ukraine and Russia muddied the outlook for supply, and his proposal for Russia to boost diesel exports drew bipartisan opposition in the US Senate.

Wall Street Eyes Bank Earnings and Inflation Data

S&P 500 futures rose 0.3% and Nasdaq futures gained 0.4%. Major US banks kick off earnings on Tuesday, with S&P 500 profits expected to jump more than 30% in the third quarter, according to LSEG IBES.

Economist said all gains in the S&P 500 since mid September came from tech, while investors demand higher yields to fund AI borrowing. US CPI data this week is expected to show a 0.6% monthly rise to 3.7% annually, with core inflation cooler at 2.5%.