Asian Markets Trade Mixed as Oil Prices Rebound

Asian markets traded mixed on Monday as oil prices rebounded from last week's cooldown. The Nikkei 225 in Japan was little changed, dipping less than 0.1% to 66,333.53. In contrast, Australia's S&P/ASX 200 added 0.3% to 8,688.60.

The Kospi in South Korea fell 2.3% to 6,916.30, while the Shanghai Composite lost 1.7% to 3,820.82. Hong Kong's Hang Seng rose 0.7% to 24,684.09.

Oil prices increased due to uncertainty surrounding the Iran war and its impact on Middle Eastern oil supply. Benchmark U.S. crude rose 1% to $93.33 a barrel, while Brent crude gained 1.8% to $106.19 a barrel.

Last week's low point for Brent oil was at $97 levels, but it has since rebounded. The 10-year Treasury yield also saw a brief spike to 5.22%, up from 5.18% late Thursday.