Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Tuesday, following the mixed cues from Wall Street overnight, as elevated crude oil prices amid ongoing hostilities in the Middle East and Eastern Europe, heightened global inflation concerns and pushed global yields higher. Iran continues to assert its control over the Strait of Hormuz, with ships being attacked more frequently than at any point in the war. Asian markets closed mixed on Monday.

Iran-backed Houthi militants claimed fresh attacks across Saudi Arabia. Russia and Ukraine have also resumed attacks on energy infrastructure.