Asian shares mostly gained Thursday as investors continued to buy technology stocks, particularly those linked to artificial intelligence, despite uncertainty over the war in Iran and its impact on energy markets.
Japan's benchmark Nikkei 225 rose 3.3% to 68,956.72, while South Korea's Kospi gained 2% to 6,971.35. Australia's S&P/ASX 200 fell nearly 2% to 8,614.40. Markets in Hong Kong and Shanghai were closed for a national holiday.
In Tokyo, shares of companies expected to benefit from strong demand for computer chips and AI-related technology advanced. Advantest, Tokyo Electron and SoftBank Group were among the gainers.
On Wall Street, US stocks mostly declined Wednesday despite signs that the US economy remains relatively strong. The S&P 500 fell 0.3%, ending its third losing month in the past four months. The Dow Jones Industrial Average dropped 443.87 points, or 0.9%, while the Nasdaq composite gained 0.2%.
A US inflation report showed consumer prices rose 3.4% in August from a year earlier, below economists' expectation of 3.7% but still above the Federal Reserve's 2% target.
Oil prices continued to fluctuate amid uncertainty over when the Iran war will allow crude supplies to return to normal. US benchmark crude rose 0.12% to $90.53 a barrel, while Brent crude gained 0.32% to $98.34.
Iranian officials said Wednesday they had received an official US response to Tehran's latest proposal aimed at ending the seven-month conflict but did not disclose its contents.
US President Donald Trump had rejected an earlier Iranian proposal to reopen the Strait of Hormuz within a week if Washington met certain conditions.
The yield on the 10-year Treasury note rose to 5.29% from 5.26%, returning to levels last seen more than two decades ago. The 30-year Treasury yield increased to 5.64% from 5.59%.
The S&P 500 fell 19.30 points to 7,651.54, while the Dow dropped 443.87 points to 50,906.05. The Nasdaq gained 63.52 points to 26,861.06.
In currency trading, the US dollar rose to 158.30 Japanese yen from 157.33 yen, while the euro fell to $1.1320 from $1.1334.