Most Asian stocks enjoyed a healthy recovery Thursday following a drab start to the week as bond yields and oil prices dropped after Donald Trump suggested the latest US attacks against Iran would likely be short-lived.

Sovereign yields are a reference point for asset prices across financial markets and the higher price of money means higher mortgage rates for consumers and tough choices for government spending as funding costs climb.

Stocks slumped in Asian trading on Wednesday as a bond market-induced selloff on global markets spilled over into the region, after renewed attacks by the United States on Iran pushed oil prices higher.

The dollar held steady near a two-week high on Monday as markets ramped up bets on a rate hike after hawkish remarks by Federal Reserve Chair Kevin Warsh, while the yen slipped back through the closely watched 160-per-dollar level.

The Indonesia Stock Exchange (IDX) has started trials with exchange members to drop the minimum stock price floor from Rp 50 (0.28 US cents) to just Rp 1, ensuring readiness among the members and securities firms for the upcoming changes.   

Oil prices were headed for weekly losses as Iran and Oman had agreed on administering traffic in the Strait of Hormuz and sharing revenues.

Asian stocks edged higher Wednesday as oil prices extended a decline on receding concerns about another military flare-up between the United States and Iran, while traders were also nervously awaiting Nvidia's earnings and key US inflation data.

The US re-imposed its blockade of Iran's shipping and ports on July 13 as a deal to halt the war between them broke down in an attempt to cut off oil sales, Tehran's primary source of hard currency.

The lack of progress on reopening the Strait of Hormuz added to unease on trading floors, with oil prices gradually rising over the past two weeks as the United States and Iran remain deadlocked.

President Prabowo Subianto announced that Indonesia will launch the Strategic Minerals and Commodities Exchange (BMKS), set to begin operations on Jan. 1 next year.

Analysts highlighted easing uncertainty following the assessment by global index provider MSCI, along with positive sentiment surrounding President Prabowo Subianto’s annual speech, as the main drivers of the stock rally.  

Bond yields climbed on Tuesday to their highest in decades, with oil prices rising for a third day, while stocks gave up early gains in Asian trade as a US-Iran truce expired and Tehran threatened to adopt a "fully offensive" military posture.

Iran called on the United States to accept defeat while President Donald Trump blasted Tehran as "very evil" and told Americans to brace for continued high fuel prices as a result of the war.

Asian stocks rose on Friday, poised for their strongest week in two months as benign inflation data dented expectations of an imminent US rate hike, although faltering talks to end the war in the Middle East are likely to keep risk sentiment in check.

MSCI’s move to remove and downgrade Indonesian stocks from its indexes may trigger outflows of Rp 500 billion to Rp 1 trillion, mainly affecting stocks directly impacted by the rebalancing.

The dollar nudged a little higher in Asian trade on Wednesday, receiving limited additional strength after renewed attacks on shipping in critical waterways in the Middle East, as currency markets anxiously awaited the release of inflation data later in the global day.

There have been no new initial public offerings (IPOs) by state-owned firms on the Indonesia Stock Exchange over the past three years.  

The US dollar hovered near a two-month low against major currencies on Monday as investors awaited this week's inflation data for clues on the Federal Reserve's rate path.

The dollar drifted higher against the yen and euro on Friday, building on the previous day's gains as doubts about an Iran peace deal buffed the US currency's appeal as a haven.

Asian stock markets jumped on Wednesday as strong earnings and a resurgence of demand for tech lifted Wall Street to record peaks, while hopes for progress on opening the Strait of Hormuz dragged on oil prices and bond yields.

South Korea's Kospi swung between gains and losses, with chip giants SK hynix and Samsung, which have been the poster boys of a month-long AI-themed rout, center of attention again.

The yen leapt on Monday, keeping traders on alert for further intervention from authorities to shore up Japan's historically weak currency, days after Tokyo and Washington jointly intervened in the foreign exchange market.

Asian markets rallied hard with Wall Street on Friday as South Korea's battered market made a record comeback, stirring hopes that the recent selloff in AI-linked assets may be near an end.

Brent futures slipped below US$90 per barrel, after jumping over 7 percent a day earlier as fighting in the Middle East escalated, although data showed tankers continued to make their way out of the region despite the continued strikes.

Oil prices jumped after fresh attacks in the Middle East shattered the relative calm of recent days in the US-Iran war as investors fret about the impact of depleting supplies on prices and global rates.

SK hynix and Samsung lost around 13 percent, dragging the Kospi index down 10.2 percent, having earlier been paused for a 20-minute circuit-breaker.

Concerns about the sustainability of the AI boom and questions over the eye-watering sums pumped into the sector continue to dog traders, as tech firms bear the brunt of selling.