Asian markets mixed, oil prices retreat from recent highs

Asian markets were mixed on Monday, October 26, as Japan’s Topix rose 0.37% while the Nikkei 225 lost 0.2%. South Korea’s Kospi fell 0.3%, the Kosdaq declined 1.18%, and Australia’s S&P/ASX 200 slipped 0.26%, according to Mettis Global, citing CNBC. Investors were also looking ahead to the Federal Reserve’s policy announcement due Wednesday.

Oil retreated during Asian trading after reaching its highest levels since April last week. Brent fell 1.31% to $115.19 per barrel, while U.S. WTI declined 1.5% to $101.83; the earlier rally had followed reports of possible U.S. and Israeli strikes against Iran after the U.S. midterm elections. Markets largely expect the Fed to keep its target range at 3.75% to 4%, although Bank of America expects a 25-basis-point increase. The moves place attention on global equities, energy prices and the upcoming US rate decision.