Asian Markets Trade Mostly Lower

Asian markets are trading mostly lower on Thursday, despite the broadly positive cues from Wall Street overnight, as traders remained cautious after renewed Israeli strikes on Lebanon raised doubts about the durability of a fragile two-week Middle East ceasefire agreed upon by the U.S. and Iran. Disputes between Tehran and the US-Israeli side remain over whether the truce extends to Lebanon. Asian markets closed mostly higher on Wednesday.

A senior Iranian official said three provisions of the ceasefire proposal had already been breached. The Strait of Hormuz remains largely obstructed and Iranian media reported that oil tanker traffic through the strait had been suspended following the attacks.