Asian Markets Trade Mixed

Asian stock markets are trading mixed on Wednesday, following the broadly negative cues from Wall Street overnight, as hotter-than-expected US inflation data led to renewed concerns about the outlook for interest rates. Meanwhile, crude oil prices declined as concerns of U.S.-Iran re-escalation faded after U.S. President Donald Trump agreed to maintain a status quo in the Middle East crisis. Asian markets closed mostly higher on Tuesday.

While Qatar’s efforts to seek a diplomatic solution continue, Trump has decided to enforce the economic and naval blockade against Iran and put a pause on any military confrontation.