Oil Price Rise Fuels Inflation Concerns, Weighs on Asian Stocks

Asian stocks wavered Thursday as rising oil prices and stronger-than-expected US economic data fueled inflation concerns and bets on further interest-rate hikes.

The Brent crude price held steady at $102.84 a barrel after jumping almost 4% in the previous session, weighing on market sentiment.

Government bonds in Japan, Australia, and New Zealand retreated following declines in Treasuries during the New York session, with the US five-year note yield surging above 5% for the first time since 2007.

The 10-year yield increased by 15 basis points to 5.11%, its biggest one-day increase since President Donald Trump's April 2025 tariff announcement triggered market turmoil.