Asian markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, as traders remain cautions amid concerns about the Middle East conflict intensifying after U.S. retaliation to Iran's downing of a U.S. helicopter and Iran's counter-attacks delayed an amicable U.S.-Iran peace deal and an early reopening of the Strait of Hormuz. Asian markets closed mostly lower on Wednesday.
The Strait of Hormuz has remained shut for nearly three-and-a-half months, impacting crude oil prices and tightening global energy supplies.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.