Asia markets largely set for slight rebound; oil eases slightly on Israel-Hamas truce extension

Asia-Pacific markets are set to rebound slightly after the region saw all its major indexes end the day in negative territory on Monday.

Earlier on Tuesday, oil prices eased somewhat lower after Qatar said the truce between Israel and Hamas has been extended by a further two days.

The Brent futures contract for January fell 50 cents, or 0.62%, to trade at $80.08 a barrel, while West Texas Intermediate crude futures reversed earlier losses to post a 0.4% gain and trade at at $75.16 a barrel.

In Australia, the S&P/ASX 200 opened up 0.43%, ahead of its October inflation readings on Wednesday.

Japan’s Nikkei 225 is also set to fall ahead of its July inflation reading, with the futures contract in Chicago at 33,535 and its counterpart in Osaka at 33,520 against the index’s last close of 33,447.67.

However, Hong Kong’s Hang Seng index looks set to extend its losses from Monday, with HSI futures at 17,517 compared to the index’s close of 17,525.06.

Overnight in the U.S., all three major indexes lost ground on Monday, a day after the major averages posted a four-week winning streak.

Stocks have rallied since the 10-year Treasury yield retreated from the 5% mark it briefly topped in late October. The S&P 500 is up 8.5% so far this month, while the Dow has added 6.9% and the Nasdaq has jumped 10.8%.

On Monday. the Dow Jones Industrial Average lost 0.16%, while the S&P 500 shed 0.2%. The Nasdaq Composite saw the smallest loss, edging lower by 0.07%.

— CNBC’s Pia Singh and Jesse Pound contributed to this report