Asian Markets Trade Mostly Higher

Asian markets are trading mostly higher on Thursday, following the mixed cues from Wall Street overnight, as tumbling crude oil prices after the reopening of the Strait of Hormuz following the inking of the U.S.-Iran peace agreement helped ease regional tensions and global inflationary pressure. More tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz. Asian markets closed mixed on Wednesday.

The Australian market is trading modestly lower on Thursday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,800k level, with weakness across most sectors led by gold miners, energy and technology stocks.