Asian shares slump on chipmaker drag, bonds cheer cooler inflation
Asian shares fell on Thursday as chipmakers stumbled ahead of results from bellwether TSMC, while bonds benefited from another benign reading on US inflation that lessened the risk of an imminent rate hike. Oil prices, however, kept climbing as hostilities heated up in the Middle East. Washington continued striking Iran after reimposing a naval blockade of its ports, while Tehran warned of an “existential war” with America. Brent crude futures rose 0.6% to $85.45 a barrel, adding to this week’s gain of 12%.