In Asian Equity Markets indices retraced some of their early losses Monday but investors remained wary about global risks that include a trade fight between the U.S. and China, growth outlook, as well as oil prices. Japan’s Nikkei 225 erased early losses of more than 0.7 percent to trade fractionally higher while the Topix index was near flat. In South Korea, the Kospi retraced losses of more than 0.6 percent to trade down 0.1 percent. Markets in Greater China were mostly positive in early trade. Taiwan’s Taiex index was up 0.35 percent while Hong Kong’s Hang Seng Index added 0.14 percent.

In Currency Markets the US dollar built on last week’s gains and rose towards a 16-month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy, but sterling remained under heavy pressure amid uncertainty over a Brexit deal. The Fed has reaffirmed its plan to raise interest rates by 25 basis points in December, followed by two more potential rate hikes by mid-2019 on the back of an upbeat economy and rising wage pressures. The dollar gained 0.1 percent on the Japanese yen which quoted at 113.98 on Monday.

In Commodities Markets oil prices rose by about one percent on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen crude decline by 20 percent since early October. International benchmark Brent crude oil futures were at $71.11 per barrel at 04:00 GMT, up 93 cents, or 1.3 percent from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $60.73 per barrel, up 54 cents, or 0.9 percent from their last settlement.

In US Equity Markets the S&P 500 fell more than 1 percent on Friday, with shares of large technology, industrial and material companies taking a hit as weak Chinese data and a slide in oil prices raised concerns about global growth. The S&P technology index fell 1.9 percent as Apple Inc fell 2.4 percent and semiconductor stocks down 2.1 percent. Ten of the 11 major S&P sectors were lower, with slight gains seen in the defensive consumer staples index. General Electric Co fell 8.2 percent to near 10-year lows at $8.35 after J.P. Morgan cut price target on the stock to $6 from $10.

In Bond Markets U.S. Treasury yields fell on Friday with shorter-dated yields retreating from the highest levels in a decade, as investors scooped up safe-haven U.S. government debt due to losses in equities worldwide on worries about economic growth in China and U.S. interest rate hikes. The five-year yield scaled down to 3.046 percent, headed for a weekly increase of less than 1 basis point after hitting a 10-year high of 3.098 percent on Thursday.