Asian Markets Cautious Amid Ongoing Middle East Tensions

Asian markets are expected to open cautiously on Tuesday due to ongoing tensions in the Middle East. The region's economies are closely tied to oil prices, which have surged amid renewed uncertainty surrounding the conflict.

Hong Kong's Hang Seng futures stood at 25,966, slightly above its previous close of 25,937.49, while Australia's S&P/ASX 200 futures were at 9,178 compared with Monday's close of 9,232.6.

The Strait of Hormuz is a crucial waterway that connects the Persian Gulf to the open ocean and has been a point of contention between Iran and the US. Tehran has indicated that discussions with Oman over reopening the strait are advancing, but remains reluctant to resume direct talks with Washington until certain conditions are addressed.