Asian stocks edge lower as oil retreats ahead of earnings and rate decisions
Japan's Nikkei fell 0.8%, while Brent slipped 1.0% to $115.48. Alphabet, Microsoft and Amazon are among companies due to report earnings.
Japan's Nikkei falls 0.43% as chip stocks weigh, while Topix rises
Energy-linked stocks led gains, with Inpex rising 4.92%, even as oil retreated from a six-month high.
Japanese stocks diverged in morning trading on October 26, with semiconductor-related losses pulling the Nikkei 225 down 0.43% to 62,425.47. The broader Topix advanced 0.48% to 3,984.74, while the Nikkei was on course for a third consecutive session of declines.
Most Nikkei constituents rose: 166 stocks gained and 59 fell. But technology companies' large index weight outweighed that positive breadth. Sumco led the declines, losing 4.03%, followed by Kokusai Electric with a 3.86% fall and Screen Holdings with a 3.78% drop.
Energy-linked companies were among the strongest performers. Inpex climbed 4.92%, JGC Holdings added 4.56% and Mitsubishi Corp rose 4.28%. The gains followed a 2.5% rise to a record for the S&P 500 energy sector on Friday, when U.S. stock benchmarks finished lower.
Oil retreated from a six-month high after media reports said Qatari mediators had visited Tehran to pursue de-escalation alongside the United States. Intensified Houthi attacks on Saudi Arabia had raised concerns about supply.