Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, despite the broadly negative cues from Wall Street overnight, amid ongoing mediation efforts in the Middle East to revive a fragile ceasefire after reports that U.S. President Donald Trump is nearing a decision on a 10-day ceasefire to reopen the Strait of Hormuz. Some traders are also picking up stocks at a bargain following the recent slump in the markets. Asian markets closed mixed on Monday.

The U.S. and Iran are set to renew diplomatic efforts to halt the recently erupted confrontation even though both nations have not ceased their attacks on each other.