Bangkok, Oct 2 (AP) Shares were mostly lower in Europe and Asia on Monday even after the US Congress averted a US government shutdown with a last-minute compromise.

Markets in China are closed for a weeklong holiday. Markets in India and South Korea also were closed.

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Oil prices gained and US futures were higher as the threat of a federal government shutdown receded after Congress approved the temporary funding bill late Saturday to keep federal agencies open until November 17.

Germany's DAX lost 0.2 per cent to 15,358.22 and the CAC 40 in Paris shed 0.2 per cent to 7,117.58.

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Britain's FTSE 100 declined 0.4 per cent to 7,579.23. The future for the S and P 500 was unchanged and that for the Dow industrials lost less than 0.1 per cent.

A Japanese central bank survey showed business confidence on the rise, though that failed to lift investor sentiment in Tokyo.

The Bank of Japan's “tankan” quarterly survey measured business sentiment among major manufacturers at plus 9, up from plus 5 in June. Sentiment among major non-manufacturers rose four points to plus 27, in the sixth consecutive quarter of improvement and the most positive result in about three decades.

Tokyo's Nikkei 225 index gave up early gains, shedding 0.3 per cent to 31,759.88. Australia's S and P/ASX 200 lost 0.2 per cent to 7,033.20.

Taiwan's Taiex gained 1.2 per cent, while the SET in Bangkok edged 0.1 per cent lower.

On Friday, Wall Street closed out its worst month of the year with more losses. The S and P 500 slipped 0.3 per cent and the Dow fell 0.5 per cent. The Nasdaq composite edged 0.1 per cent higher.

After easing earlier in the day on encouraging signals about inflation, Treasury yields resumed their ascent.

The yield on the 10-year Treasury yield returned to 4.58 per cent, where it was late Thursday, after dipping to 4.52 per cent. It's again near its highest level since 2007.

Treasurys are seen as some of the safest investments possible, and when they pay higher yields, investors are less likely to pay high prices for stocks and other riskier investments.

That's a big reason why the S and P 500 dropped 4.9 per cent in September to drag what had been a big gain for the year down to 11.7 per cent

Treasury yields have been climbing sharply as Wall Street accepts a new normal where the Federal Reserve is likely to keep interest rates high for longer.

The Fed is trying to push still-high inflation down to its target, and its main tool of high interest rates does that by trying to slow the economy and hurting prices for investments.

The Fed's main interest rate is at its highest level since 2001, and the central bank indicated last week it may cut interest rates next year by less than it earlier expected.

Friday's economic data showed that not only was inflation a touch cooler than expected in August, so was growth in spending by US consumers. That can be a positive for inflation but it may also dent what's been a big driver keeping the US economy out of a recession.

The resumption of US student-loan repayments also may funnel more dollars away from the spending by consumers that has helped to keep the economy afloat.

Oil prices have jumped to their highest level in more than a year, which is pressuring the economy by raising fuel costs for everyone.

Early Monday, a barrel of US crude was up 95 cents to USD 91.74 per barrel in electronic trading on the New York Mercantile Exchange.

It sank 92 cents Friday to settle at USD 90.79, but it's still up sharply from USD70 in June.

Brent crude, the international standard, rose USD 1.04 to USD 93.24 per barrel.

The latest monthly update on the US jobs market is due this week, with a couple of important reports on inflation coming the following week. Postponements of such reports could complicate things for the Fed, which has insisted it will make upcoming decisions on interest rates based on what incoming data say about the economy. The Fed's next meeting on rates ends on November 1.

In currency trading Monday, the dollar rose to 149.72 Japanese yen from 149.38 yen. The euro slipped to USD1.0541 from USD1.0589. (AP)

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