Stocks cautious in Asia as oil gains, yields rise

Asian and emerging-market equities declined as investors remained cautious due to rising oil prices and global bond yields. The market downturn was further exacerbated by chipmakers reacting to an OpenAI pause. Additionally, emerging stocks slid following US President Donald Trump's rejection of Iran's proposal to reopen the Strait of Hormuz, which renewed Mideast tensions. These combined factors led to a general slip across various regional indices as energy costs and yields climbed higher.