Asian stock markets are trading mixed as inflation worries tied to crude oil eased on reports of a possible peace deal between the U.S. and Iran, mediated by Pakistan and Qatar. The S&P/ASX 200 slipped 10.80 points (0.12%) to 8,806.10 after Reserve Bank of Australia Deputy Governor Andrew Hauser said inflation was 'materially worse', and markets now price a 44 percent chance of a November rate hike, up from 30 percent on Monday. Japan's Nikkei 225 gained 748.13 points (1.17%) to 64,823.55, led by exporters, financials and technology stocks. NextDC shares plunged almost 40 percent after it slashed guidance on power delays at its M3 data centre in Melbourne. Japan's September merchandise trade deficit was 536.6 billion yen, wider than the forecast 181.0 billion yen, as exports rose 16.7 percent on year, short of expectations of 20.1 percent.
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