* Brent inches back after Monday's 1-yr high on Russia
* European stock markets also poised for lower start
* Nikkei rises 1.1 percent on weaker yen but ex-Japan slips
* Samsung slumps after telling carriers to stop selling
* Dollar strengthens on growing Fed rate hike expectations
By Nichola Saminather
SINGAPORE, Oct 11 Asian shares were mostly lower
on Tuesday, while oil prices hovered near one-year highs on
growing expectations of an output cut by OPEC producers.
European markets also look set for a lacklustre start, with
financial spreadbetters predicting Britain's FTSE 100
will open 0.3 percent lower, Germany's DAX will begin
the day down 0.1 percent and France's CAC 40 will be
flat at the open.
Brent crude slipped 0.2 percent to $53.05 a barrel
after surging as much as 3 percent on Monday. U.S. crude futures
dipped a similar amount to $51.26, after jumping to a
four-month high in the previous session.
The overnight gains came after Russia said it was ready to
join the Organization of Petroleum Exporting Countries in
limiting crude output and Algeria called for similar commitments
from other non-OPEC producers.
OPEC aims for agreements to cut about 700,000 barrels per
day in its first reduction in eight years.
"The rally was purely sentiment-driven as the details of how
this would actually work are still pretty thin on the ground,
but given Russia is the biggest oil producer in the world any
deal that gets them to cut back will be seen as a big positive
for the oil market," Angus Nicholson, market analyst at IG in
Melbourne, wrote in a note.
In equity markets, MSCI's broadest index of Asia-Pacific
shares outside Japan retreated 1.1 percent after
creeping higher on Monday as investors saw less likelihood of
Republican Donald Trump winning next month's presidential
But Japan's Nikkei closed up 1 percent at the
highest level in more than a month, thanks to a weaker yen.
In South Korea, Samsung Electronics slumped 7.4
percent and was on track for its biggest one-day decline in more
than four years as the company struggles to contain a deepening
crisis over its Galaxy Note7 phone.
The company halted sales of Note7 phones on Tuesday and told
owners to stop using them while it investigates reports of fires
in the devices, fuelling expectations the tech giant may scrap
the flagship device.
The world's top smartphone maker has recalled 2.5 million
Note7s because of faulty batteries, and the latest reports of
fires in replacement devices have raised new doubts about
Samsung's quality control.
Samsung pulled South Korea's KOSPI down 1.2 percent.
China's CSI 300 index advanced 0.2 percent and the
Shanghai Composite rallied 0.4 percent, after Beijing unveiled
guidelines to cut massive corporate debt, potentially leading to
consolidation among some state-owned companies and drawing more
investor interest into equities.
Hong Hong's Hang Seng index slid 1.5 percent.
Overnight, U.S. stock indexes closed up between 0.5 percent
and 0.7 percent, after the pan-European FTSEurofirst 300
index ended the day 0.9 percent higher.
U.S. stocks were helped by a buoyant energy sector, as well
as the view that "Donald Trump's campaign appears to be
unravelling as influential figures within his own party start to
peel away from him," Michael Hewson, chief market analyst at CMC
Markets in London, wrote in a note.
The dollar extended overnight gains on growing expectations
that the Federal Reserve will raise interest rates this year.
Traders have priced in a 70 percent chance the Fed will hike
at its Dec. 13-14 policymakers' meeting, up from 66 percent
early Friday, according to CME Group's FedWatch tool.
Investors are looking to Wednesday's release of minutes of
the latest Federal Reserve Open Market Committee meeting to see
how close the Fed was to hiking rates last month.
The U.S. dollar strengthened 0.3 percent to 104.01 yen
on Tuesday, adding to its 0.7 percent gain on Monday.
The dollar index, which tracks the greenback against
a basket of six global peers, added 0.2 percent to 97.12, after
climbing 0.3 percent on Monday.
The euro inched down 0.1 percent to $1.11225.
The beaten-down British pound continued its drop,
falling 0.4 percent to $1.2307 on Tuesday, down 5.1 percent this
The Mexican peso held on to most of the 2 percent it
gained against the U.S. dollar on Monday, reflecting views that
Trump's chances of winning the election were diminishing. Trump
has been sharply critical of Mexican migration and trade.
(Reporting by Nichola Saminather; Editing by Eric Meijer and