Asian stocks took a step back on Monday after three consecutive weeks of gains as a retreat in oil prices left investors in a ponderous mood about the health of the global economy.
* Japan closed for a holiday and will reopen on Tuesday.
Oil prices slipped for a second day, extending Friday's slide of over 1 percent after the U.S rig count rose for the first time since December, renewing worries of a supply glut after an output freeze proposal had helped boost the market to 2016 highs. [O/R]
The Dow Jones had rallied 0.7% to 17,602. The S&P 500 added 0.4% to 2050, while the NASDAQ gained 0.5% to 4796.
European shares rose on Friday, with export-oriented auto stocks recovering as the euro lost some ground against the dollar, while oil stocks fell after a drop in crude prices.
The pan-European FTSEurofirst 300 index closed up 0.2 percent, although the index still registered its first weekly loss after rising for the last four weeks.
Reference: Reuters
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