Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders remain concerned about the uncertainty in the Middle East conflict. Higher bond yields and soaring crude oil prices fueled global inflation concerns and indicated an imminent interest rate hike from the US Fed this week. Asian markets closed mostly lower on Monday.

Renewed supply concerns also exist after Saudi Arabia closed a critical 1,200 km long East-West pipeline that provides an alternative route to the Strait of Hormuz, following a drone attack.