Southeast Asia Stocks Slide Amid Oil Rally and Global Bond Sell-Off

Southeast Asian stocks retreated on Tuesday as oil prices surged above $90 per barrel and global bond yields hit fresh highs, fueled by concerns about inflation and tighter monetary policy.

The MSCI gauge of Asean stocks fell 0.3% to a two-week low, weighed down by declines in Malaysia's benchmark stock index and Singapore's FTSE Straits Times index.

A broader gauge of emerging Asia equities rose 0.5%, thanks to Taiwan's strong performance, which climbed 1.8% after hitting a near two-month high earlier in the session.

South Korea's Kospi index was up 0.2% in afternoon trade in Singapore.

Global macro jitters, including the US-Iran conflict and soaring oil prices, took their toll on Asian equities, with local pressures exacerbating losses across markets.