Asian shares mixed as oil surge and Treasury yields weigh on markets

Asian shares were mixed Tuesday as surging oil prices and rising Treasury yields weighed on markets, while US stock futures edged higher after the S&P 500 erased its monthly advance and the Nasdaq 100 fell 1.1%. The 10-year Treasury yield hit a 19-year high of 5.27% before paring gains, with the 30-year rate jumping to 5.55%, as elevated oil prices from the US-Iran standoff revived inflation concerns and bets on further Federal Reserve rate hikes. US oil rose 0.6% to $93.12 a barrel, while Brent settled near $105, and gold fell almost 4% to about $4,120 an ounce. Iran and the US remained far apart on a ceasefire and reopening the Strait of Hormuz, with Tehran rejecting a proposal Trump has dismissed, and Iranian officials privately expressing pessimism about a deal before November midterms. Investors await US labor-market data this week, while the yen traded around 157.40 per dollar after Japan's currency czar warned again over its weakness.