Asian Shares Trade Mixed as Oil Prices Surge

Asian shares traded mixed on Monday after oil prices rose, following a cooldown in oil prices last week that helped US stocks close out their first winning week in three. Japan's benchmark Nikkei 225 was little changed, inching down less than 0.1% to 66,333.53.

Australia's S&P/ASX 200 added 0.3% to 8,688.60, while South Korea's Kospi dipped 2.3% to 6,916.30. Hong Kong's Hang Seng rose 0.7% to 24,684.09, and the Shanghai Composite lost 1.7% to 3,820.82.

The price of Brent crude, the international standard, rose 1.8% to $106.19 a barrel, while benchmark US crude gained 1% to $93.33 a barrel. The uncertainty surrounding the war with Iran and its impact on oil flows from the Middle East continues to contribute to market volatility.

On Wall Street, the S&P 500 added 0.5% to break a three-day losing streak marked by big swings due to rising yields in the bond market. The Dow Jones Industrial Average jumped 478 points, or 0.9%, and the Nasdaq composite climbed 0.5%.