Asian stock markets are trading mostly lower on Friday, following the broadly negative cues from Wall Street overnight, as traders remain concerned about the economic impact of fresh escalation in the Middle East war following attacks and counter attacks on critical energy infrastructure across the Middle East. Fading expectations for US Fed rate cuts this year is also weighing on market sentiment. Asian markets ended mostly lower on Thursday.
The "uncertain impacts" due to the Middle East escalation prompted the U.S. Fed to keep interest rates steady. The Bank of Japan and the Swiss National Bank also followed suit.
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