Asian shares edged lower on Monday as Brent crude slipped 1.0% to $115.48 a barrel, retreating from a six-month high. Investors faced a week of central bank meetings and major technology earnings.
Japan’s Nikkei fell 0.8% and South Korea’s KOSPI slipped 0.4%, while MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1%. Brent crude declined 1.0% to $115.48 a barrel after rising 6.2% last week; U.S. crude fell 1.1% to $102.08.
The Federal Reserve, Bank of Japan and European Central Bank were expected to hold rates this week, while New Zealand’s central bank was widely expected to raise them. Markets were pricing an 80% chance of a Federal Reserve rate increase in December. Alphabet, Microsoft and Amazon were among the major companies due to report results, with consensus estimates of $128 billion, $90.6 billion and $202 billion in revenue, respectively.
U.S. core inflation was forecast at 3.1% for September, and economic growth was forecast at a 3.2% annualized pace. The 10-year Treasury yield stood at 5.0%, below an early-month peak of 5.36%. Brazil’s electoral court said President Luiz Inacio Lula da Silva won an unprecedented fourth term.
