Asian Markets Trade Mostly Higher

Asian markets are mostly higher on Friday, despite the broadly negative cues from Wall Street overnight, with few other markets trading relatively flat amid uncertainty over the reopening of the Strait of Hormuz and the Middle East tensions. Crude oil prices remained elevated following remarks from US Treasury Secretary Scott Bessent that Washington will impose “the toughest sanctions in history” on Iran. Asian markets ended mostly higher on Thursday.

The Australian stock market is trading modestly lower on Friday, reversing some of the gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 9,100 level, with weakness in financial and technology stocks partially offset by gains in gold miners and energy stocks.