Stock Market Live Updates: Asian markets tread cautiously amidst US stock retreat

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Asian markets opened cautiously on Tuesday following a slight retreat in US stocks from recent highs, interrupting a record-setting streak dating back to 2004. Australia’s benchmark edged up by 0.39% to 7,620.60, but Japan, recovering from a tragic New Year’s earthquake, remained closed for holidays. Meanwhile, South Korea’s KOSPI declined by 0.49% to 2,642.31, and Hong Kong’s Hang Seng Index showed a 0.51% increase to 17,135.12 points. 

Meanwhile, crude oil prices advanced following Iran’s deployment of a warship to the Red Sea in retaliation for the US Navy’s destruction of three Houthi boats. West Texas Intermediate hovered around $72 a barrel, marking a recovery after a 5.2% drop in the preceding three sessions.