Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from Wall Street overnight, as traders continue to fret over persistently high crude oil prices and escalating Middle East hostilities, which is stoking global inflation risks and rate-hike fears. Asian markets closed mostly lower on Tuesday.

Iran has launched a barrage of missiles targeting U.S. military positions in Jordan and warned all tanker crews in Bahraini and Kuwaiti to “immediately abandon their vessels”, whether at anchor or at berth in ports.