Asian Shares Mixed Ahead Of Central Bank Meetings, Tech Earnings

(RTTNews) - Asian stocks ended mixed on Monday due to renewed tensions in the Middle East and ahead of earnings from major U.S. technology companies due this week.

Investors also looked forward to a slew of central bank meetings, including the U.S. Federal Reserve's policy meeting set for Tuesday and Wednesday for clues on whether policymakers remain inclined to raise rates further this year.

Gold was up half a percent at $4,015 an ounce in Asian trade, hovering close to a three-month low after falling 4 percent last week, marking its biggest weekly decline since June.

A pull back in Treasury yields weighed on the dollar index as investors braced for the Fed decision.

Brent crude futures fell nearly 2 percent below $115 a barrel after reports of diplomatic efforts to reduce regional tensions in West Asia.

A Qatari delegation arrived in Tehran on Sunday as part of renewed diplomatic efforts to de-escalate reginal tensions in coordination with the United States.

Saudi Arabia partially resumed operations at King Khalid International Airport in Riyadh on Sunday, even as Yemen's Iran-aligned Houthis vowed to keep striking the facility, calling it a "military target."

China's Shanghai Composite index edged up 0.19 percent to 3,697.52, reversing early losses on concerns over weakening growth and consumption.

Hong Kong's Hang Seng index rose 0.51 percent to 23,211.81 as investors weighed easing oil prices against concerns over technology valuations.

The Taiwanese stock market was closed on account of Taiwan Restoration Day. The New Zealand stock exchange was closed for Labor Day.

Japanese markets fell for a third consecutive session as chip-related stocks fell amid concerns over AI infrastructure financing. The Nikkei average dropped 0.80 percent to 62,189.65 while the broader Topix index settled 0.18 percent higher at 3,972.98.

Among the prominent decliners, Sumco tumbled 3.5 percent and Screen Holdings slumped 4.3 percent.

Higher oil prices lifted energy stocks, with Inpex surging 4.9 percent and JGC Holdings rallying 2.7 percent.

Seoul stocks fell sharply amid mounting concerns about the AI boom after investment bank Golman Sachs cut its 12-month target for the benchmark index from 12,000 to 9,000, reflecting more conservative assumptions about how the market assesses companies' fundamentals.

The Kospi index tumbled 1.46 percent to 5,469.47 ahead of earnings announcements from Korea's major chipmakers later this week, with SK Hynix set to report its Q3 earnings results on Wednesday, followed by Samsung Electronics on Thursday.

Australian markets ended slightly higher after falling earlier in the session. The benchmark S&P/ASX 200 inched up 0.17 percent to 8,809.90, led by miners ahead of the release of September 2026 quarter and monthly CPI inflation data due on Wednesday.

The broader All Ordinaries index closed 0.23 percent higher at 8,926.60.

U.S. stocks ended lower on Friday amid concerns over surging energy costs and a steady rise in bond yields.

Brent crude futures hit a six-month high above $116 a barrel while the 10-year Treasury yield rose toward 4.99 percent as Iran-allied Houthi militants continued their attacks against Saudi Arabia and fears grew of a new breakout in the Israel-U.S. war on Iran after the midterm elections.

Iran's army chief reportedly claimed the country's military is fully prepared for "asymmetric warfare" after strengthening its capabilities.

In economic releases, data showed U.S. business activity grew at a slightly slower pace in October but remained close to a multi-year high. A measure of consumer sentiment hit its lowest level in five months in October as rising interest rates depressed morale.

While the tech-heavy Nasdaq Composite slid 0.2 percent to reach its lowest closing level since early August, the S&P 500 dropped half a percent and the Dow tumbled 1.2 percent.