Asian shares open cautiously as oil eases from six-month highs

Asian shares opened cautiously on Monday as oil prices eased from six-month highs, with Brent crude slipping 1.0 percent to $115.48 a barrel. The decline followed reports of Qatari mediation efforts in Tehran to de-escalate regional tensions. Brent futures had jumped 6.2 percent last week to their highest weekly close since mid-2022 due to Houthi attacks in Saudi Arabia, while US crude fell 1.1 percent to $102.08. Japan's Nikkei dipped 0.8 percent after losing 4.0 percent last week, and South Korea fell 0.4 percent, having shed almost 19 percent this month. Central bank meetings this week include the US Federal Reserve, expected to hold rates but with an 80 percent chance of a December hike, and New Zealand's central bank, widely expected to raise rates on Wednesday. Earnings from hyperscalers Alphabet, Microsoft, and Amazon will test AI-driven valuations, with 10-year Treasury yields at 5.0 percent.