Asian Shares Mixed as Oil Rebounds, Wall Street Gains

Asian shares traded mixed Monday as oil prices rebounded, with U.S. crude rising 1% to $93.33 a barrel and Brent up 1.8% to $106.19, following last week's cooldown that helped Wall Street post its first winning week in three. Japan's Nikkei 225 edged down less than 0.1%, while Australia's S&P/ASX 200 gained 0.3% and Hong Kong's Hang Seng rose 0.7%. South Korea's Kospi fell 2.3% and Shanghai's composite lost 1.7%. U.S. stocks closed higher Friday, with the S&P 500 adding 0.5% to 7,743.41. Oil volatility stems from uncertainty over the war with Iran and access to the Strait of Hormuz. The 10-year Treasury yield, which spiked to 5.22% last Friday near 2007 highs, eased to 5.15% as oil prices pulled lower, supporting equities.