Asia report: Shares broadly lower as oil, bond yields rise
By Frank Prenesti
Date: Monday 28 Sep 2026
(Sharecast News) - Asian sharemarkets were lower on Monday as oil prices pushed higher after US President Donald Trump dismissed Iran's latest truce offer.
South Korea's KOSPI closed 2.7% lower, while China's Shanghai Composite fell 1.67%.
Hong Kong's Hang Seng and Australia's ASX outperformed with gains of ing about 0.54% and 0.17% respectively. Japan's Nikkei 225 slipped 0.7%.
Brent crude was trading 2.16% higher at $106 a barrel after Trump rebuffed Iran's conditional offer to reopen the Strait of Hormuz and told aides he expects US strikes on the country to resume after November's midterm elections, the Wall Street Journal reported Saturday, citing unnamed officials.
Market uncertainty and fears of more rate hikes from central banks kept bond yields elevated.
US 30-year Treasuries rose to 5.5185%, their highest in 22 years, as investors price in another rate rise this year by the Federal Reserve.
Chipmakers were among the weakest performers, with SK Hynix and Samsung sliding nearly 5% as traders reacted to OpenAI's decision to pause work on some advanced AI models.
Kioxia dropped 3.7% in Tokyo, while Hong Kong's SMIC and Hua Hong lost 3.4% and 4.2% respectively. The moves reflected renewed worries that any slowdown in AI development could hit demand for high‑end chips and data‑centre hardware.
Reporting by Frank Prenesti for Sharecast.com
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