Asian Stocks Slide as Oil Prices Surge and Bond Yields Climb

Stocks in Asia took a hit on Wednesday, following Wall Street's decline from its all-time high. The Kospi in South Korea led the way down, dropping 5.7% to 6,487.34. Samsung Electronics shed 7.5%, while memory chipmaker SK Hynix tumbled 8.8%. In Tokyo, the Nikkei 225 sank 3.2% to 65,332.04 due to worries over rising bond yields and selling of tech shares.

The Shanghai Composite index shed 2.2% to 3,903.61, while shares in Unitree, a humanoid robot maker listed on the STAR market, soared nearly 630%. However, another major Chinese humanoid robot maker, UBTech, saw its stock fall 10.6%.

Rising oil prices are also contributing to market uncertainty. Brent crude gained 0.6% to $91.57 per barrel, while US benchmark crude oil rose 0.7% to $84.66 per barrel.