Asian Markets Plunge on Rising Oil Prices and Stronger Inflation Data

Asian markets are mixed on Monday, led by rising oil prices after Saudi Arabia shut a key pipeline due to drone attacks and postponed talks with Gulf states. The move has strengthened the case for a Federal Reserve rate hike following hotter-than-expected US inflation data.

US stock futures declined, with Dow futures down 0.11%, S&P 500 futures falling 0.49%, and Nasdaq futures declining 1.26%. In contrast, Japan's Nikkei 225 fell 1.06% to a six-week low, while China's Shanghai Composite gained 0.16%.

Japan's 10-year government bond yield held around 2.98%, near its highest level in three decades. The Japanese yen eased toward 154 per dollar. Hong Kong's Hang Seng Index rose 0.38%, extending losses for a fourth straight session, while South Korea's Kospi dropped 2.43%.