Asian Shares Mixed In Cautious Trade As US-China Tensions Weigh

Market Performance - Asian stocks exhibited mixed performance amid rising tensions between the U.S. and China, with Tesla reporting a significant drop in profits, causing investor unease [1] - China's Shanghai Composite index increased by 0.22% to 3,922.41, recovering from early losses as investors anticipated a meeting between Chinese President Xi Jinping and U.S. President Donald Trump [2] - The Nikkei average in Japan fell by 1.35% to 48,641.61, following a record high earlier in the week, as new Prime Minister Sanae Takaichi announced economic measures to alleviate inflation [3] - Seoul's Kospi index dropped by 0.98% to 3,845.56 after reaching record highs earlier, as the Bank of Korea maintained its benchmark interest rate [4] - New Zealand's S&P/NZX-50 index rose by 0.53% to 13,377.10, with gains across most sectors [5] Commodity and Economic Indicators - Oil prices surged over 3% following new sanctions imposed by U.S. President Donald Trump on Russia's largest oil companies, aimed at pressuring Russia regarding the Ukraine conflict [6] - The U.S. dollar strengthened against rivals as investors awaited delayed consumer inflation data for insights on the Federal Reserve's interest rate trajectory [5] - Gold prices fell below $4,100 an ounce for the third consecutive day due to profit-taking [5] U.S. Market Reactions - U.S. stocks declined as Netflix reported weaker-than-expected Q3 earnings and Texas Instruments provided disappointing Q4 guidance, alongside news of potential export curbs to China [7] - The Nasdaq Composite decreased by 0.9%, the Dow fell by 0.7%, and the S&P 500 dropped by 0.5% [7]