Asian markets show mixed performance amid oil price dip and US bond volatility

In early Thursday trade, Japan's one outlet 225 advanced 1.3% to 65,883.41, helped by chipmakers benefiting from artificial-intelligence interest. Australia's S&P/ASX 200 dropped 0.7% to 8,700.50, while Hong Kong's Hang Seng and Shanghai's Composite fell 0.5% and 0.8% respectively. US crude prices slipped 0.82% to $91.40 a barrel and Brent fell 0.83% to $102.22, still far above the roughly $72 level before the Iran conflict.

Wall Street faced pressure after a strong US economic report lifted 10-year Treasury yields to about 5.10%, a level not seen since 2007, which dampened stock valuations. The Fed recently raised its short-term rate and signaled more hikes may be needed to reach its 2% inflation goal. The Bank of Japan's recent rate hike has yet to revive the yen, leaving Japan vulnerable to higher oil costs.