Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Business

Global Market Today: Asian shares subdued as rising oil fuels rate hike concerns

Oil advanced while US equity-index futures and Treasuries slipped after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, reigniting Middle East tensions that have roiled bond markets.

Brent crude climbed 1.5% to about $105.90 a barrel as Iran stuck to a seven-day proposal for reopening the Strait of Hormuz. The rise in oil added to inflation concerns, pushing the 10-year Treasury yield four basis points higher to 5.20% in Asian trading. A Bloomberg gauge of the dollar rose against most major currencies, while the yen weakened.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.