In Asian Equity Markets indices notched moderate gains in Thursday trade, tracking Wall Street’s advance as oil prices traded higher after touching multi-year highs overnight. The Nikkei 225 edged higher by 0.17 percent in early trade. The Topix was up 0.06 percent, with gains led by its mining and oil sub-indexes, up 2.98 percent and 1.63 percent, respectively. Moderate gains were similarly seen in South Korea as the benchmark Kospi rose 0.31 percent. Greater China markets traded in positive territory, with Hong Kong’s Hang Seng Index advancing 0.97 percent. Energy stocks notched significant gains, with CNOOC jumping 3.54 percent and contributing to the sector’s 3.02 percent overall gain.

In Currency Markets the US dollar held firm on Thursday after the 10-year U.S. bond yield rose above the psychologically important 3 percent mark and investors looked to U.S. consumer price data later in the day that could show an acceleration in inflation. The dollar index stood little changed against a basket of six major currencies at 93.02 after hitting a 4-1/2-month high of 93.42, extending its gains from its April low to 4.7 percent. The New Zealand dollar fell as much as 1.1 percent to a five-month low of $0.6916 after the Reserve Bank of New Zealand (RBNZ) held interest rates steady and said the next move in rates could just as easily be a cut as a hike.

In Commodities Markets oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market. The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 which limited Tehran’s nuclear ambitions in exchange for removing U.S.-Europe sanctions. Oil prices rose sharply in response to the announced measures. Brent crude futures, the international benchmark for oil prices, hit their strongest since November 2014 at $77.76 per barrel on Thursday.

In US Equity Markets indices gained on Wednesday as jumping oil prices boosted energy stocks following U.S. President Donald Trump’s decision the previous day to quit a nuclear agreement with Iran. The S&P energy index jumped 2.03 percent, bringing its gain this quarter to 12.6 percent, more than any other sector. The S&P 500 gained 0.97 percent to 2,697.79. The Nasdaq Composite added 1 percent to finish the session at 7,339.91. Walmart Inc fell 3.13 percent after the retailer took a majority stake in Indian e-commerce firm Flipkart for about $16 billion. Walt Disney declined 1.79 percent despite reporting a quarterly profit above Wall Street estimates.

In Bond Markets the yield on the benchmark U.S. government note rose back above the psychologically significant level of 3 percent on Wednesday following fair investor demand at auction for $25 billion in new 10-year notes. The possibility of a 3 percent coupon for the first time in seven years drew investors to the auction. While that proved elusive, the yield at auction was 2.995 percent, the highest level reached since January 2014. Wednesday’s auction was part of the $73 billion in new U.S. debt the Treasury Department will sell this week to meet its second-quarter financing needs. The 10-year note yield was last trading at 3.006 percent while he 30-year bond yield was 3.163 percent, adding 4 basis points for the day.