Tech Lifts Share Markets in Asia as Oil Slips

Asian share markets rose on Monday, helped by strong technology performance as growing AI-related data demand boosted chipmakers. The MSCI Asia-Pacific index excluding Japan gained 0.9%, while South Korea and Taiwan also advanced. U.S. and European equity futures moved higher as well. At the same time, U.S. bond markets remained volatile after a sharp rise in two-year Treasury yields. Markets were pricing a 56% probability of another Federal Reserve rate hike in October, with another increase by year-end considered highly likely. Oil prices moved lower as evidence of recovering Gulf supply eased some concerns over shortages, while gold declined as higher yields reduced the appeal of the non-interest-bearing asset.