Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, as tumbling crude oil prices after US attempts to unblock Strait of Hormuz traffic boosted market sentiments and eased supply concerns. Risk sentiment also improved amid signs of de-escalation in the Middle East conflict. Asian markets closed mostly lower on Tuesday.
Optimism grew that a deal with Tehran could be within reach, after the US declared an end to offensive operations against Iran, reaffirmed the ceasefire, and temporarily paused efforts to help stranded vessels exit the Strait of Hormuz.
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