Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, after signs of easing in the Middle East conflict surfaced, with U.S. President Donald Trump announcing a five-day pause on strikes over Iran. Soaring oil prices have already triggered inflationary pressures and prompted global central banks to hold interest rates steady. Asian markets closed mostly lower on Monday.
Trump remarked that U.S.-Iran negotiations to end the war were going on constructively. However, Iran's state-run media said the country's foreign ministry has denied negotiating with the U.S.
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