Asian share markets edged higher on Monday as strong demand for data linked to artificial intelligence supported chipmakers, while oil prices eased slightly but remained above $100 a barrel. Trading was thin because Japan was closed for its Silver Week holiday through Wednesday, leaving the dollar steady at 157.00 yen as investors watched for possible Bank of Japan intervention. The yen had jumped on Friday after Japanese authorities conducted currency-market rate checks, the Nikkei newspaper reported. South Korea’s tech-heavy index gained 1.1%, Japan’s Nikkei futures rose 0.5% and MSCI’s broadest Asia-Pacific index excluding Japan advanced 0.3%. US and European equity futures also moved higher. Bond markets remained under pressure, with US two-year yields rising 36 basis points over two weeks to 4.7604%, their highest level since mid-2024. Markets priced a 56% chance of another Federal Reserve rate increase in October and treated a hike by year-end as almost certain. BofA analysts said they still expected two more increases, in October and December, citing strong consumer spending and persistent inflation risks. Oil was supported by concerns over attacks involving the Houthis, Iran and the United States, as well as reports that Saudi Arabia sought to restart flows through its damaged East-West pipeline. Brent crude fell 0.2% to $103.68 a barrel, while US crude slipped 0.3% to $100.02. CBA estimated global oil and refined-product inventories had only five to 10 weeks before depletion, down from its estimate of 15 to 20 weeks two weeks earlier. The outlook could increase pressure on Washington to reach an agreement with Iran to restore flows through the Strait of Hormuz and keep the Bab el-Mandeb passage open. European political and fiscal concerns also weighed on bonds, with French debt risk premiums reaching their widest level since the euro zone debt crisis and German debt facing potential pressure after Chancellor Friedrich Merz’s mainstream conservative party recorded its worst election result since 1949. US President Donald Trump is due to attend the United Nations General Assembly this week before meeting Chinese President Xi Jinping on Thursday.