Asian markets traded mixed on Monday as dollar strength took a breather and oil prices surged.
Helping to improve sentiment around Asia, the U.S. dollar index, which measures the greenback against a basked of currencies, eased off a multi-year high of 101.48 touched last week. The greenback was wavering at 101.09 against a basket of currencies as of 3:40 pm HK/SIN.
"The dollar rally is probably running out of steam as the market seems to have fully priced-in the 'Trump effect' and an impending December rate hike," said Margaret Yang, market analyst at CMC Markets, in a note on Monday.
Crude futures gained upward momentum during Asian trade, with U.S. West Texas Intermediate (WTI) crude up 1.01 percent at $46.15 a barrel, while Brent added 0.85 percent to $47.26. Both crude futures had risen nearly 5 percent last week.