- South Korea's Kospi rose 2.82%, hitting record highs on tech stock rallies
- Japan's Nikkei 225 gained 0.79%, while Australia's ASX 200 fell 0.89%
- China, Hong Kong, and Taiwan markets were closed for a holiday
Asia-Pacific markets traded mixed on Friday, with South Korea's Kospi extending its record-setting advance and Japan's Nikkei 225 posting gains as investors monitored developments surrounding the Iran peace agreement and assessed the rebound in U.S. equities.
South Korea's Kospi jumped 2.82%, while Japan's Nikkei 225 advanced 0.79%. Australia's ASX 200, however, fell 0.89%.
China, Hong Kong and Taiwan markets were closed for a holiday.
South Korean stocks remained in focus after heavyweight technology shares continued their rally. Shares of Samsung Electronics and SK Hynix climbed to fresh all-time highs, helping the benchmark Kospi extend its run of record closes.
Investors were also evaluating whether the U.S.-brokered agreement between Washington and Tehran would hold over time after senior officials from both sides stressed that the deal remained conditional.
U.S. Vice President JD Vance said any economic benefits for Iran would hinge on the country's adherence to the terms of the agreement. Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, also characterised the arrangement as contingent on certain commitments. He said on Thursday that he approved the memorandum only after receiving assurances that Iran's rights and the "resistance front" would be protected.
Investors also took cues from Wall Street, where stocks finished a holiday-shortened trading week on a stronger note.
The rebound came a day after the Federal Reserve unsettled markets by signalling that another interest-rate increase this year remained possible. Despite the earlier sell-off, U.S. equities recovered, with the S&P 500 rising 1.08% to close at 7,500.58. The Nasdaq Composite gained 1.91% to 26,517.93, while the Dow Jones Industrial Average added 72.15 points, or 0.14%, to finish at 51,564.70.
With questions lingering over the trajectory of U.S. monetary policy and the implementation of the Iran agreement, investors remained focused on whether geopolitical stability and economic resilience can continue to support risk appetite across global markets.
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