Asian Markets Trade Mixed

Asian stock markets are trading mixed on Friday, following the broadly positive cues from Wall Street overnight, amid uncertainty over a deal to end the ongoing conflict in the Middle East and the reopening of the Strait of Hormuz that continues to pose risks to the global inflation outlook. Producer prices in the U.S. unexpectedly came in flat in the month of July to add to optimism about the outlook for interest rates. Asian markets ended mixed on Thursday.

Attack threats from Yemen’s Houthi rebels on ships transiting through the Bab al-Mandeb Strait, which served as an alternative route after the Strait of Hormuz was blocked, is adding to the crude oil supply concerns.