Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the mixed cues from Wall Street overnight, as crude oil prices rebounded amid lingering uncertainty about U.S. and Iran reaching a deal to end their prolonged conflict anytime soon and reopen the Strait of Hormuz. Efforts by Qatari mediators to broker a diplomatic breakthrough between the U.S. and Iran have made little progress. Asian markets closed mostly higher on Wednesday.

Release of data shows that consumer prices in the U.S. rose less than expected in August, with the data reducing the chances the US Fed will raise interest rates later this month. However, concerns remain that persistent energy-driven inflation could prompt tighter monetary policy.