Asian Shares Mixed as Oil Prices Near $100 a Barrel

Asian shares were mixed in cautious trading on Wednesday as investors watched for developments on interest rates and oil prices.

The war with Iran pushed Brent crude higher, nearing $100 a barrel at $99.30, while U.S. stocks fell after markets reopened from a three-day weekend.

Japan's benchmark Nikkei 225 remained nearly unchanged, but South Korea's Kospi gained 1.2% to 7,041.10.

The Shanghai Composite and Taiwan's Taiex also rose slightly, while Australia's S&P/ASX 200 slipped 0.2%, and the Sensex in Mumbai shed 0.7%.

Markets are feeling pressure from rising oil prices, with Benchmark U.S. crude up 1.2% to $94.17 a barrel.

A closely watched report on U.S. inflation is due on Friday, which will show how much more people were paying in August for groceries and other costs of living than a year earlier.