Asian markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, as traders remain cautions amid concerns about the Middle East conflict intensifying after U.S. retaliation to Iran's downing of a U.S. helicopter and Iran's counter-attacks delayed an amicable U.S.-Iran peace deal and an early reopening of the Strait of Hormuz. Asian markets closed mostly lower on Wednesday.
The Strait of Hormuz has remained shut for nearly three-and-a-half months, impacting crude oil prices and tightening global energy supplies.
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