Asian markets opened with gains as concerns over Deutsche Bank AG eased over the weekend. Dollar strengthened to the highest in a week, while crude fell from a six-week high.
The MSCI Asia Pacific Index gained led by financial stocks, on reports that Germany's largest lender may have to pay a smaller fine to the U.S. regulators than feared.
Markets in China and South Korea are closed on account of a holiday. Japan's quarterly Tankan index, which measures large manufacturers' sentiment, came in slightly weaker than estimates, while China's official manufacturing Purchasing Manager's Index hit a two-year high, according to data released over the weekend.
U.S. markets closed with gains on Friday led by financial stocks as Deutsche Bank rose 14 percent. The S&P 500 index along with the Dow Jones Industrial Average ended the quarter with gains of between 2-3 percent, marking their fourth straight quarterly gain. The NASDAQ Composite index gained nearly 10 percent in the three-months ended September, after two quarters of losses.
Brexit Timeline
The pound sterling fell almost 0.5 percent against the dollar, after U.K. Prime Minister Theresa May told delegates at the ruling Conservative Party's annual conference that she will invoke Article 50 of the Lisbon treaty by the end of next March - a move that will pave the way for U.K.'s formal exit from the EU by March 2019.
Oil Retreats
After gaining nearly eight percent in the last three sessions, crude oil declined as data released by Baker Hughes Inc. showed that the number of rigs in the U.S. rose for a fifth-straight week.
Iran is looking to increase exports to 2.35 million barrels a day in the coming months, according to reports in the state news agency IRNA. OPEC members had agreed to reduce output at a meeting last week.
All Eyes On The RBI
The SGX Nifty index rose 0.15 percent to 8,664 as of 7:15 a.m., indicating a positive start for Indian equities. The Reserve Bank of India's policy decision on Tuesday will be the a key trigger for the Indian markets this week. Economists are divided over whether the central bank will cut rates or not.
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