In Asia, the Hang Seng closed the morning up 19.4 points at 15,828.21, while the Nikkei was recently down 125.52 points at 14,998.52.
New York's main oil contract, light sweet crude for delivery in August, was down 9 cents at $70.78 per barrel from $70.87 in late trading in the US Friday.
Eraly broker notes:
GROUP 4 SECURICOR UPGRADED TO 'BUY' VS 'HOLD' AT DEUTSCHE BANK
IMPERIAL TOBACCO ADDED TO JP MORGAN EUROPEAN ANALYST FOCUS LIST
DELHAIZE UPGRADED TO 'BUY' VS 'NEUTRAL' AT MERRILL LYNCH
QUINTAIN ESTATES UPGRADED TO 'BUY' AT MERRILL LYNCH