Asian markets traded mostly lower on Thursday, despite mostly positive signals from Wall Street overnight, as traders remained cautious after fresh attacks in which the US military shot down four Iranian drones and attacked a control center in the southern port city of Bandar Abbas to prevent the launch of a fifth drone.
Asian markets closed mixed on Wednesday.
However, continued optimism over a potential peace deal between the US and Iran to end the war in the Middle East and reopen the Strait of Hormuz sent crude prices down.
Chinese electric car company Nio is trying to raise the bar for premium vehicles in a fiercely competitive market, SEEbiz reports.
The US-listed stock rose 9% on Wednesday, sending shares further into the green for 2026, after Nio officially launched its ES9 SUV with prices starting at just 390,000 yuan ($57,470) with a separate monthly payment for battery power.
It reflects a continuing race to the bottom in China’s electric car market, despite Beijing’s efforts to curb excessive competition, often called involution.
