Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, as tumbling crude oil prices after US attempts to unblock Strait of Hormuz traffic boosted market sentiments and eased supply concerns. Risk sentiment also improved amid signs of de-escalation in the Middle East conflict. Asian markets closed mostly lower on Tuesday.
Optimism grew that a deal with Tehran could be within reach, after the US declared an end to offensive operations against Iran, reaffirmed the ceasefire, and temporarily paused efforts to help stranded vessels exit the Strait of Hormuz.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.