Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from European markets and lack of cues from Wall Street overnight, amid renewed uncertainty about a potential peace deal to end the Middle East conflict after the US attacked key Iranian missile launch sites in Southern Iran and boats attempting to lay mines, in what Iran said were defensive actions. Asian markets closed mostly higher on Monday.
Meanwhile, US President Donald Trump said talks were progressing well, but warned that additional attacks could follow if negotiations broke down. The current talks are on extending the ceasefire for about two months, during which Washington would lift its blockade and Tehran would reopen the Strait of Hormuz, which will ease pressure on major Asian economies.
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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.