Asian Markets Trade Mixed

Asian stock markets are trading mixed on Friday, following the mixed cues from Wall Street overnight, as continued surge in crude oil prices and bond yields raise concerns about inflation risk and interest rate hikes. The lack of clarity about peace talks for the resolution of the Middle East conflict is also weighing on market sentiment. Asian markets ended mostly lower on Thursday.

Reports indicate the U.S. and Iranian negotiators are discussing a phased deal to end the prolonged Middle East conflict. It would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran.