Asian Markets Trade Mostly Lower

Asian markets are mostly lower on Wednesday, following the mixed cues from Wall Street overnight, with markets in Japan on return after a holiday and South Korea tumbling amid anxiety over AI industry and unresolved geopolitical risks. Traders also remain cautious ahead to the U.S. midterm election results. Rising expectations on a possible settlement between the U.S. and Iran is aiding market sentiment, with crude oil prices easing. Asian markets closed mixed on Tuesday.

U.S. forces conducted secret attacks on Iran’s Qeshm Island yesterday. The strikes targeted a newly constructed anti-aircraft facility near the Strait of Hormuz. The attacks could be a measure to stop Iran from attacking commercial ships in the Strait of Hormuz.