Business and finance news from the Asia-Pacific.

Oil extended gains after a report that Iran attacked “hostile targets” in the Strait of Hormuz, with Tehran seeking to bar US ships from the critical waterway in a deal with Oman. Higher energy prices revived concerns that the Federal Reserve may need to keep interest rates elevated. Bloomberg's Haidi Stroud-Watts spoke to Lori Calvasina, Head of US Equities Strategy at RBC Capital Markets.

Plus - Japan had a slew of corporate earnings, Bloomberg's Shery Ahn spoke to Rie Nishihara, Chief Japan Equity Strategist at JPMorgan Securities.