Asia Markets Bounce as Oil Falls More Than 3 Percent on Iran Talks

Share markets bounced in Asia on Monday, recovering part of last week's losses, while oil prices fell more than 3 percent as talks between Iranian and Qatari mediators ran into a third consecutive day.

Japan's Nikkei rose 0.3 percent. South Korea's benchmark added 2.6 percent, clawing back a small part of the 16 percent it shed last month. The MSCI index of Asia-Pacific shares outside Japan rose 0.5 percent. China's blue chips gained 1.3 percent after reports that regulators would meet financial institutions to discuss measures to support capital markets.

United States stock futures pointed up. S and P 500 futures rose 0.5 percent and Nasdaq futures rose 0.9 percent. In Europe, EUROSTOXX 50 futures rose 0.3 percent, DAX futures rose 0.2 percent and FTSE futures were flat.

Oil gives back part of October's climb

Brent futures fell 3.3 percent to 109.70 dollars a barrel. United States crude futures fell 3.4 percent to 100.58 dollars a barrel. The Hindu BusinessLine put January Brent at 109.69 dollars, down 3.30 percent in Monday morning trade, and December United States crude at 100.60 dollars, down 3.38 percent.

Monday's fall trims a strong October. Brent rose 13.6 percent during the month and ended October at its highest level in six months. Tankers were still being attacked in the Gulf, so the talks have not removed the risk to shipping through the region.

Iranian and Qatari officials have now talked for three straight days about a deal to end the war between Iran and the United States. Iran's foreign minister, Abbas Araghchi, said on Sunday that the discussions with Qatari mediators were continuing. OPEC plus, the group of oil exporters and their allies, met online on November 1 and decided to keep its December production at September levels, the Hindu BusinessLine reported.

Apple earnings lead a crowded week

Investors are waiting on Apple, which reports earnings later on Monday. Analysts expect earnings of 2.00 dollars a share on revenue of about 113 billion dollars, up 11 percent from a year earlier. A solid report could ease the artificial intelligence cash burn worries that hit technology shares last week.

Gold rose 0.9 percent to 3,911 dollars an ounce, after a fall of 6.8 percent last month. The euro was a shade firmer at 1.1169 dollars, and the dollar was little changed at 157.75 yen.

The rest of the week is busy. A survey of United States manufacturing for October is due later on Monday. Voters decide the midterm elections on Tuesday, November 3, and the October jobs report arrives on Friday.

This is not financial advice. Do your own due diligence.