Asian markets cautious as oil retreats from six-month high

Asian markets were cautious on Monday as oil prices fell from six-month highs, with investors awaiting central bank meetings and major tech earnings. Brent crude dropped 1.6 percent to $114.88 per barrel following reports of Qatari mediators visiting Tehran to ease regional tensions. Japanese Nikkei fell 0.5 percent, while South Korea's main index declined 1.1 percent, extending monthly losses to about 20 percent. Inflationary pressures from higher oil prices are raising expectations of a new rate-hiking cycle, though major central banks are likely to hold rates steady this week. Markets anticipate the Federal Reserve may raise rates in December, with a key US inflation reading expected to show prices at 3.1 percent. Tech giants including Alphabet, Microsoft, and Amazon report results this week, testing confidence in the AI boom.