Asian Shares Mixed As Oil Prices Ease

Asian stocks ended mixed on Monday amid growing concerns about massive AI spending. Asia’s factory growth continued to expand in October, but growth slowed in major chip exporters, private surveys showed earlier on Monday.

Following the nearly 29% plunge of US chipmaker Intel on Friday, its worst one-day drop in decades, investors looked ahead to upcoming earnings from US technology company Apple, US chipmaker AMD and US data analytics company Palantir for further direction.

The US dollar struggled for direction ahead of this week’s US midterm elections that will determine control of Congress.

The euro languished near a 17-month low after credit rating agency Fitch lowered France’s sovereign rating outlook from “stable” to “negative.” Gold traded up nearly 1 percent at $3,904 an ounce after plummeting 3.7 percent in the previous session to hit a one-year low. The precious metal slumped 6.8 percent last month, marking its worst October performance since 2008.