Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Wednesday, despite the broadly negative cues from Wall Street overnight, as tumbling crude oil prices on easing supply concerns as Saudi Arabia restored half of the capacity of its East-West pipeline, allaying fears of global inflation and aggressive interest rate hikes. Asian markets closed mixed on Tuesday.

Traders also remain reluctant to make significant moves ahead of the release of the closely watched US inflation data later in the day.