Asian markets are volatile, with the Hang Seng index falling to its lowest level in 11 years while oil prices soar

As we reach the fourth quarter of the year, Asian markets saw a range of reactions from buyers and sellers on Monday.

According to statistics from Refinitiv Eikon, the Hang Seng index in Hong Kong was down 0.97 percent in the final hour of trading, hitting a low not seen since October 2011. Early gains for Australia's S&P/ASX 200 index were erased, and the benchmark index ended the day down 0.27 percent, at 6,456.90.

With this increase, the Nikkei 225 closed at 26,215.79, while the Topix rose 0.63 percent to 1,847.58. The MSCI All-Country Asia ex-Japan Index fell 0.8%.

Reports of a potential OPEC+ production cut boosted both Brent crude and West Texas Intermediate futures.

Several Asian countries will provide inflation statistics later in the week, and Australia's central bank will announce its interest rate decision.

The Chinese and South Korean stock markets are closed today due to the Golden Week vacation.