Shares slip in Asia as oil climbs, rate hikes loom

Oil jumped after new strikes on Saudi targets and ships raised fears about supply through the Strait of Hormuz and Bab el‑Mandeb, with an Iran–Gulf meeting to discuss the routes postponed.
A hotter U.S. inflation print has markets pricing a high chance of a Fed 25bp hike this week, and the BOJ is also seen likely to lift rates — central bank moves are the main focus.
Asian and U.S. futures slipped, yields rose and the yen steadied from recent lows, though strategists say corporate earnings could still support equities.