- Asian stocks mixed amid cautious investor sentiment after Israel-Lebanon ceasefire extension.
- Japan's Nikkei 225 rose 0.9%, while South Korea's Kospi declined 0.3% on inflation and geopolitical concerns.
- US ordered Navy to target Iranian boats in Strait of Hormuz, raising Gulf tensions further.
Asian stock markets were mixed on Friday as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire. The two countries agreed to extend their ceasefire by three weeks following a meeting in the White House with top US officials, President Donald Trump.
The MSCI Asia Pacific index was flat.
Japan's benchmark Nikkei 225 gained as much as 0.9% while the Topix rose 0.4% after core inflation in the country accelerated for the first time in five months with Iran war fueling energy worries.
South Korea's Kospi fell 0.3%. Hong Kong Hang Seng index futures were at 25,736, lower than the index's last close of 25,915. In Australia, the S&P/ASX 200 was down 0.5%.
Tensions in the Gulf remained higher after President Donald Trump said he ordered the US Navy to shoot any Iranian boats laying mines in the Strait of Hormuz and vowed to step up efforts to clear the waterway.
Oil Prices
Oil prices extended gains for a fifth consecutive day — the longest rally since January — as faltering talks between the US and Iran heightened fears of prolonged supply disruptions in the Persian Gulf. Brent crude for June settlement rose 1.1% to $106.20 a barrel, pushing weekly gains to about 17%, while WTI for June delivery climbed 0.96% to $96.77, holding near the $97 mark.
Wall Street
US stocks dropped on Thursday as traders weighed developments in the tense stalemate between the US and Iran.
The S&P 500 Index closed 0.4% lower, paring a drop of as much as 1.3%, while the Nasdaq 100 Index finished down 0.6%. The Dow Jones Industrial Average lost 179.71 points, or 0.36%.
In the futures markets during Asian trading hours, contracts for S&P 500 was up 0.2% and Nasdaq 100 added 0.7%.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.