Asian markets traded mixed on Monday, with Japan's Nikkei 225 and South Korea's Kospi falling more than 2% as technology stocks came under pressure. The Nikkei 225 declined 2% to 64,016.46, while the Kospi lost 2.03% to 5,553.00. Australia's S&P/ASX 200 bucked the trend, rising 0.22% to 8,826.20.
US equity futures edged higher, with Nasdaq-100 futures up 0.4%, S&P 500 futures gaining 0.2% and Dow Jones Industrial Average futures rising 110 points, or 0.2%.
Tech Sell-Off
Japanese technology stocks fell after US chip shares extended their losses on Friday. Electronic components maker Taiyo Yuden Co. and semiconductor materials producer Sumco Corp. were among the biggest decliners on the Nikkei 225.
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The Philadelphia Semiconductor Index fell for an eighth consecutive session, its longest losing streak since 2008. The sustained weakness in US chip stocks has put pressure on Asian semiconductor companies and related businesses.
Oil Retreats
Crude oil prices eased from recent highs as traders assessed attacks on Russian energy infrastructure and risks to shipping in the Persian Gulf. Brent crude futures fell $1.04 to $108.82 a barrel, while US West Texas Intermediate declined 26 cents to $101.15.
Fires broke out at an oil terminal and a depot in St Petersburg after Ukraine launched a large-scale drone attack, regional governor Alexander Beglov said on Telegram. The terminal exports about 120,000 barrels of refined products daily, mainly fuel oil, according to Kpler. The extent of the damage remained unclear.
Russia Deal
US President Donald Trump said Washington had reached a diesel supply deal with Russia and waived tariffs and sanctions on Russian energy exports to keep peace negotiations with Ukraine on track. US lawmakers introduced legislation seeking to block fuel purchases from Russia.
The announcement came as Moscow and Kyiv exchanged attacks on energy infrastructure. Ukraine had briefly paused strikes on Russian energy facilities after Trump said on October 11 that the two countries had agreed to a truce. The latest attacks have renewed concerns about possible disruptions to energy supplies.
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