Asia-Pacific markets rose on Friday as investors assessed fresh military activity involving Iran alongside signs that the United States and Iran were moving closer to a temporary agreement to halt their three-month conflict.
Japan's Nikkei 225 gained 0.88%, while the broader Topix index advanced 0.53%. In South Korea, the Kospi climbed 2.68% and the small-cap Kosdaq added 0.25%.
Australia's S&P/ASX 200 rose 0.72%. Hong Kong's Hang Seng Index futures were last at 24,995, slightly below the index's previous close of 25,006.16.
The gains came as markets weighed reports of military developments in Iran against indications of progress in diplomatic discussions between Washington and Tehran.
Conflict Developments
Iran's armed forces fired missiles at unspecified targets late on Thursday, according to the state-run Fars news agency.
The reported military activity in southern Iran followed comments from the Pentagon that Tehran had launched a ballistic missile toward Kuwait and deployed attack drones in and around the Strait of Hormuz.
Truce Talks
Earlier on Thursday, a White House official confirmed an Axios report stating that the United States and Iran had "mostly agreed" on the terms of a deal intended to temporarily pause the conflict that has lasted for three months.
The prospect of a temporary agreement helped support investor sentiment despite the latest military developments.
In the United States, futures pointed to a muted start. S&P 500 futures and Nasdaq 100 futures traded near flat levels, while futures linked to the Dow Jones Industrial Average rose seven points, or less than 0.1%.
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