Asian stock markets are mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, as a fresh spike in oil prices, triggered by attacks on Middle Eastern energy facilities, revived inflation concerns. Report showing stronger-than-expected increase in US producer prices and the US Fed's higher inflation projections dampened bets for near-term interest rate cuts. Asian markets closed mostly higher on Wednesday.
The Middle East war continued to escalate as attacks on the UAE's energy infrastructure heightened fears of prolonged supply disruptions. Iran also launched missile strikes on a Qatari site housing the world's largest LNG facility after an Israeli attack on Iran's South Pars gas field.
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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.