Asian Markets Trade Mixed as Oil Prices and Bond Yields Weigh on Investors

Asian markets were trading mixed on Thursday, as investors weighed the impact of oil prices and US bond market fluctuations. The Nikkei 225 in Japan rose 0.8% to 65,513.99, with some chipmakers benefiting from interest in artificial intelligence.

Australia's S&P/ASX 200 fell 0.7%, while Hong Kong's Hang Seng lost 0.4%. The Shanghai Composite dipped 1.2% to 3,889.47. Trading was closed in South Korea due to the Chuseok autumn harvest holiday.

Oil prices remained a concern, with US crude rising 0.67% to $92.78 a barrel and Brent crude gaining 0.57% to $103.67 a barrel. This is higher than its pre-war price of around $72 per barrel.

The US bond market was also on investors' minds, after a strong report on the economy raised inflation worries and led to a jump in the 10-year Treasury yield to 5.10% from 4.96%. This has undercut prices for stocks and other investments, while also slowing the economy by making borrowing more expensive.