Asian Shares Mixed as Oil Prices Ease
Asian stock markets traded with mixed results on Monday, November 2, 2026, as investors balanced concerns over the sustainability of artificial intelligence (AI) spending against relief from falling crude oil prices. While technology-heavy indices struggled to recover from a sharp selloff in late October, broader market sentiment was supported by easing energy costs and positive cues from US equity futures. The mixed performance suggests a cautious but potentially positive start for global markets, with particular attention on how Indian equities respond to lower oil imports and strong domestic earnings.
What Happened in Asian Markets
Regional indices showed divergent trends on Monday. Japan’s Nikkei 225 was down 0.3%, recovering from deeper losses earlier in the session, while South Korea’s Kospi advanced 1.4% before settling with a smaller gain. The MSCI index of Asia-Pacific shares outside Japan slipped 0.2%, reflecting lingering caution following a difficult month for global equities. In India, the Nifty 50 opened higher, rising nearly 1% to cross the 23,200 mark, supported by strong quarterly results from major companies like Reliance Industries, which reported a 40.6% rise in net profit for the September quarter.
- Japan: Nikkei 225 down 0.3%.
- South Korea: Kospi up 1.4% initially, settling with a modest gain.
- India: Nifty 50 up approximately 0.94% to 23,269.50 in early trade.
- China: Hang Seng and Shanghai Composite each gained 0.3%.
Why Oil Prices Are Easing
Crude oil prices retreated on Monday, offering a welcome break from recent inflationary pressures. Brent crude futures declined 2.7% to $110.4 per barrel, while US West Texas Intermediate (WTI) crude fell 2.9% to $101.1 per barrel. This drop follows a 13.6% surge in Brent crude during October, driven by geopolitical tensions. The recent decline is attributed to diplomatic progress between Iranian and Qatari officials, raising hopes for an end to the US-Israeli conflict with Iran. Although attacks on oil tankers in the Gulf continue to pose supply risks, the diplomatic overtures have temporarily calmed investor fears regarding energy security.
