Asian markets gain on improving oil flows, easing yield concerns

Mettis Global reported that Asian equities advanced at the start of Monday trading, helped by hints that oil shipments from the Middle East are recovering. Japan's Nikkei 225 climbed more than 1.7% in early dealings, while the wider Topix gained 0.79% and Australia's S&P/ASX 200 rose 0.53%. Exchanges in mainland China and South Korea were not trading because of holidays.

Sentiment also got a lift as worries about climbing US bond yields eased a little, with traders waiting for the minutes of the latest Federal Reserve gathering, due later this week. Those minutes could offer clues on the future direction of interest rates. Geopolitical tension nonetheless stayed prominent, as the standoff between the United States and Iran continued and Iranian Parliament Speaker Mohammad Bagher Ghalibaf said the Strait of Hormuz will remain shut until Iran's demands tied to the conflict are satisfied.

On Wall Street, the Dow Jones Industrial Average rose 250 points, or 0.5%, finishing at 51,176.46 on Friday, while the S&P 500 added 0.7% and the Nasdaq Composite gained 1.2%. Technology shares led the advance, with Nvidia hitting an intraday record, though the 10-year Treasury yield remains a major worry after reaching its loftiest point in over twenty years. Separately, the US Air Force pulled all B-1 bombers from a UK air base after a probe into an intended terror plot, according to the Associated Press.