Asian stock markets are trading mostly higher on Wednesday, following the mixed cues from Wall Street overnight, as traders remain cautious amid developments in the Middle-East conflict even as U.S. President Donald Trump reportedly said the war against Iran could end "very soon." Trump also said Iran would be hit "twenty times harder" if they do anything that stops the flow of oil within the Strait of Hormuz. Asian markets closed mostly higher on Tuesday.
Echoing Trump's confidence, Defense Secretary Pete Hegseth asserted in a press conference that Iran is "badly losing" but said the U.S. will still be launching its "most intense day of strikes" in Iran.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.