Asian Stocks Trade Mixed as Oil Prices and US Bonds Come into Focus

Asian stock markets traded mixed on Thursday as investors digested recent swings in oil prices and the U.S. bond market.

The Nikkei 225 index in Japan rose 1.3% to 65,883.41, with some chipmakers benefiting from interest in artificial intelligence.

However, Australia's S&P/ASX 200 fell 0.7% to 8,700.50, and Hong Kong's Hang Seng lost 0.5% to 24,715.95.

The price of Brent crude oil remained high at $102.22 per barrel, with concerns that the ongoing conflict in Iran could continue to impact global supplies.

The U.S. bond market also moved sharply, with the yield on the 10-year Treasury rising to 5.10% from 4.96%, which may undercut stock prices and slow the economy by increasing borrowing costs.