Global Market Today: Asian shares rise as chipmakers gain, oil climbs

Asian shares rose led by chipmakers with South Korea Kospi climbing over 3 percent and Samsung Electronics and SK Hynix gaining more than 4 percent, while US equity futures pared earlier losses. However, sentiment was weighed down by disappointing megacap earnings as Alphabet slid over 3 percent on raised capital spending guidance of up to 205 billion dollars, IBM slipped on a weaker full-year sales outlook, and Tesla fell 4 percent after missing estimates. Oil climbed with Brent rising 2 percent to around 96 dollars a barrel on escalating Middle East tensions after Houthi militants targeted Saudi Arabian tankers, while the US 30-year yield held above 5 percent and the yen slid to its weakest since 1986, with markets pricing a 30 percent chance of a Fed rate hike next week.