Asian Markets Trade Mixed Amid Oil Price Fluctuations

Asian markets were mixed on Thursday as investors grappled with recent swings in oil prices and the US bond market. Japan's Nikkei 225 gained 1.3% to 65,883.41, boosted by some chipmakers' interest in artificial intelligence.

Australia's S&P/ASX 200 fell 0.7% to 8,700.50, while Hong Kong's Hang Seng lost 0.5% to 24,715.95 and the Shanghai Composite dipped 0.8% to 3,902.33.

The price of Brent crude remains high at $102.22 a barrel, up from around $72 before the Iran war began, with worries persisting that the conflict will continue to disrupt oil supplies in the Middle East.

US inflation concerns were exacerbated by a strong economic report, leading to a 0.8% drop in the S&P 500 and a 352-point decline in the Dow Jones Industrial Average.