EQUITIES
Shares in Asia-Pacific were mostly lower in Monday trade. South Korea’s KOSPI led losses among the region’s major markets, falling 0.68%. The Nikkei 225 in Japan traded 0.31% lower while Australian stocks were also in negative territory, with the S&P/ASX 200 dipping 0.16%.
Hong Kong’s Hang Seng index dipped 0.57%, and mainland Chinese stocks recovered from earlier losses, with the Shanghai composite up about 0.10%. In Southeast Asia, the Singapore’s Straits Times index rose 0.45%.
European markets expected to start the week on a mixed note, as stocks go guarded ahead of U.S. inflation test later in the week.
OIL
Oil prices rose on Monday after Saudi Arabia's state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies. Aramco late on Friday raised its December official selling price to Asia for its Arab light crude to $2.70 a barrel versus Oman/Dubai crude, up $1.40 from this month.
The Brent now traded at $83.62 per barrel, and U.S. crude futures traded at $82.21 per barrel.
On Friday last week, the Brent ends at $82.74 a barrel, and the WTI settled at $81.27 per barrel.
CURRENCIES
The dollar index was steady on Monday but retreated 0.4% from a more than one-year peak hit on Friday. The dollar index was holding at 94.280, from a top of 94.634.
Yields on 10-year Treasuries were steady and last at 1.474%.
In cryptocurrencies, ether climbed to a fresh record earlier today, and now sat at $4,727. Bitcoin rose to a 2-1/2-week peak, traded at $65,568.
GOLD
Gold prices extended a rally to hit a two-month high on Monday as a retreating dollar bolstered the precious metal's appeal. Spot gold rose to $1,819.30 per ounce, having hit its highest since Sept. 7 earlier in the session. U.S. gold futures rose 0.27% to $1,821.70.
Spot silver rose 0.84% to $24.36 per ounce. Platinum gained 0.45% to $1,040.50 and palladium climbed 0.86% to $2,045.00.
ECONOMIC OUTLOOK
Asian shares edged lower on Monday, as investors reacted to China’s trade data released over the weekend, and as caution was warranted ahead of a reading on U.S. inflation later in the week.
Data out over the weekend showed China's exports beat forecasts in October to deliver a record trade surplus, although a miss on imports added to evidence of a slowing in domestic demand. China’s exports surging 27.1% in October as compared with a year ago.
The U.S. Congress passage of a long-delayed $1 trillion infrastructure bill over the weekend cheered investors, though a broader social safety net plan remains elusive.
This week, investors are looking ahead to fresh inflation readings in the U.S. The PPI and CPI are slated for release on Tuesday and Wednesday, respectively.
Earnings reports are scheduled on Monday, 8 Nov including from SoftBank Group, Tencent Music, AMC Entertainment, 3D Systems and PayPal.
