Asian Shares Decline as Rising Oil Prices Weigh on Earnings Optimism

Asian shares declined in early trading on Tuesday as rising oil prices and inflation concerns outweighed the positive impact of strong corporate earnings. The Nikkei 225 dipped 1.6% to 68,098.54.

The S&P/ASX 200 edged up 0.2% to 9,088.60, while South Korea's Kospi reversed course after surging earlier and dropped 0.6% to 6,933.60.

Analysts attributed the decline in part to oil prices, which accelerated upward, with benchmark U.S. crude adding 34 cents to $84.84 a barrel.

The price for a barrel of Brent crude rose 21 cents to $91.08, and Treasury yields climbed to 4.72% from 4.68%, raising pressure on the economy and prices for investments.