Asian stock markets are mostly lower on Friday, despite the broadly positive cues from Wall Street overnight, with traders remaining cautious as lingering concerns about the recent turmoil in the banking sector continue to hang over the markets. Concerns that interest rate hikes by several central banks could slow down economic growth is also weighing on the markets. Asian markets ended mixed on Thursday.
Following the US Fed's interest rate move on Wednesday, Swiss National Bank and the Bank of England raised their respective interest rates on Thursday to fight inflation.
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