Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Tuesday, following the mixed cues from Wall Street overnight, amid continued uncertainty about the progress in the ongoing peace talks to end the Middle East war and the related complete opening of the Strait of Hormuz. Meanwhile, the US granted Iran a 60-day license to sell oil on global markets, boosting expectations for a faster recovery in crude oil supply. Asian markets closed mostly higher on Monday.

The Australian stock market is slightly lower in choppy trading on Tuesday after opening in the green, reversing some of the losses in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 index is moving well above the 8,800 level, with weakness in gold miners and technology stocks partially offset by gains in iron ore miner stocks.