Asian Shares Decline as Oil Prices Surge

Asian shares declined on Tuesday due to rising oil prices and concerns about inflation, despite strong corporate earnings reports. The Japan benchmark Nikkei 225 fell by 2.5% to 67,460.73, while South Korea's Kospi dropped 1.6% to 6,869.83.

The recent slump in the Kospi is attributed to investors selling shares on the local market and investing in US stocks to escape volatility linked to artificial intelligence, analysts said.

In contrast, Hong Kong's Hang Seng gained 0.2% to 25,513.65, while the Shanghai Composite added 0.2% to 3,990.30.