Global Market Today: Asian shares rise as chips rally, oil advances

Asian shares rose led by a 3% surge in South Korean markets on chip and AI optimism, with SK Hynix US listing oversubscribed seven times. Brent crude extended gains to about $78.80 a barrel for a third straight day as US-Iran tensions raised fears of disruption to Strait of Hormuz shipping. US Treasury yields climbed, with the 10-year hitting 4.59%, and money markets pulled forward Fed rate-hike bets to October from December amid renewed inflation concerns.