Asian shares climbed on Thursday as semiconductors got a respite from heavy selling, though gains were capped by a surge in oil prices as a resumption of hostilities in the Gulf reignited inflation fears and hammered bonds.

Asian shares advanced, led by a rally in chipmakers and South Korean stocks. Oil prices extended their gains for a third day, reaching about $78.80 a barrel. Treasury yields rose…

(Bloomberg) -- Asian shares climbed, led by chipmakers, as optimism over AI-driven demand rekindled appetite for semiconductor stocks. Oil extended gains after the US struck Iran…