Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, on continuing concerns over the outlook for interest rates and a global economic slowdown. The rising geopolitical tensions between Washington and Beijing in recent days are also weighing on the markets. Asian Markets closed mixed on Wednesday.
U.S. Senate Democratic leader Chuck Schumer described the state of bilateral relations as "tense," adding the Biden administration is looking at other actions it can take after shooting down what it called a Chinese surveillance balloon over the weekend. In addition, it was reported that China has declined a U.S. request for a phone call between defense chiefs.
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