Tokyo, September 28, 2026: Asian stock markets traded mostly lower on Monday as rising crude-oil prices and higher US Treasury yields increased pressure on investors. Renewed uncertainty surrounding the US-Iran situation and the Strait of Hormuz was a major factor behind the cautious market sentiment.

Brent crude futures climbed to around $106.49 per barrel, while US crude futures rose to approximately $93.84 per barrel. The increase came amid uncertainty over whether the United States and Iran can reach an agreement that would restore more normal oil flows through the Strait of Hormuz.

South Korean Shares Come Under Pressure

South Korea’s Kospi was among the major regional decliners, falling more than 2% in early trading. Chinese blue-chip shares also declined, while Japan’s Nikkei was comparatively stable.

The movement reflects investor concerns that higher energy prices could keep inflation elevated and encourage central banks to maintain or increase interest rates.

Higher Bond Yields Add to Pressure

US Treasury yields also moved higher. The 30-year Treasury yield reached around 5.52%, close to its highest level since 2004, according to market reporting. Rising yields increase borrowing costs for companies and governments and can also reduce the relative attractiveness of equities.

The development is particularly relevant for technology companies that are raising significant amounts of capital for artificial-intelligence infrastructure and expansion.

Global Investors Watch Economic Data

Markets are also preparing for a busy week of economic releases from the United States, including inflation, manufacturing, GDP and employment data. Friday’s US jobs report is expected to receive particular attention because it could influence expectations for future Federal Reserve interest-rate decisions.

Meanwhile, the US dollar remained relatively strong against major currencies, while gold declined as higher bond yields increased the opportunity cost of holding the non-interest-bearing asset.

What Businesses Are Watching

For global companies, the combination of higher oil prices, elevated borrowing costs and currency movements is becoming an important business issue.

Energy-intensive industries could face higher operating expenses if crude prices remain elevated. Companies dependent on international financing may also face increased interest costs if bond yields remain high.

Markets are therefore likely to remain sensitive to developments involving the Strait of Hormuz, US-Iran diplomacy and upcoming economic data.