India, April 7 -- Asian stock markets are trading mostly higher on Wednesday, following the mixed cues from global markets overnight, after the U.S. and Iran agreed to a two-week ceasefire and Iran also agreed to temporarily reopen the Strait of Hormuz. The resultant drop in crude oil prices also eased global inflation and economic growth concerns. Asian markets closed mostly higher on Tuesday.
Pakistani Prime Minister Shehbaz Sharif called on US President Donald Trump to extend his deadline for Iran to reopen the Strait of Hormuz by two weeks to "allow diplomacy to run its course." Trump had earlier threatened to attack Iran's power plants and bridges if Tehran fails to reach a deal and reopen the Strait of Hormuz by 8 pm ET.
Sharif also...