Web Trader MT5 
Oil prices rose in early trading during the Asian session after OPEC+ decided to delay production hikes during the first quarter of 2026, easing fears of an oversupply. Brent crude has risen 0.8% since the open to $65.02 a barrel, while WTI climbed 1% to $61.16. OPEC+ confirmed it would increase output by 137,000 barrels per day in December but pause further hikes from January to March due to seasonal factors and uncertain demand.
In Asia, China’s manufacturing growth slowed in October as export demand weakened amid renewed U.S. trade tensions. Privaet survey manufacturing PMI fell to 50.6 from 51.2 in September, slightly below expectations of 50.9.
Asia-Pacific markets traded mixed on Monday as investors digested China’s weaker manufacturing data and followed Wall Street’s modest gains from Friday.
Hong Kong’s Hang Seng rose 0.58%, while China’s CSI 300 slipped 0.45%. Australia’s ASX 200 was flat ahead of the Reserve Bank of Australia’s policy meeting on Tuesday, where rates are expected to be held steady.
U.S. stock futures traded mostly sideways on Monday. S&P 500 futures rose 0.16%, Nasdaq-100 futures gained 0.20%, and Dow futures advanced gained nearly 0.1%.
October was a positive month for the US market, where the S&P 500 and Dow Jones gained 2.4% and 2.5%, respectively, while the Nasdaq 100 jumped 4.9%, fueled by optimism over artificial intelligence and easing U.S.-China trade tensions.
Earnings season also improved the overall sentiment. Over 80% of S&P 500 companies reporting so far have beaten expectations, with major AI firms like Palantir and AMD set to report this week.
In the commodities market update, China has scrapped a long-standing tax incentive on gold sales, a major policy change that could raise consumer prices and impact one of the world’s largest gold markets.
Starting November 1, the Ministry of Finance ended the rule allowing retailers to offset value-added tax (VAT) on gold bought from the Shanghai Gold Exchange. The change applies to all forms of gold, including bullion, coins, jewelry, and industrial materials. Gold prices fell to $3,962 in early trading today, but later bounced back. The precious metal is currently trading at $4,016 per ounce.
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