- Asian equities opened lower amid cautious optimism over US-Iran conflict developments
- Japan's Nikkei 225 slipped 0.7% after record highs, nearing the 60,000 milestone
- South Korea's Kospi and Australia's S&P/ASX 200 also declined by 0.43% and 0.28% respectively
Asian equities opened lower Friday, as cautious optimism over the US-Iran conflict tempered sentiment even as Wall Street gauges closed higher. The MSCI Asia Pacific Index slipped 0.5%.
Japan's benchmark Nikkei 225 saw some profit-booking following a record high in the previous session, slipping 0.7%, while the broader Topix was down 0.62%. The Nikkei erased its losses from the Iran war on optimism the new peace talks may hasten the end to the conflict.
The index is just 0.8% away from the 60,000 milestone eyed by investors. The gains come from the result of a years-long rally for Japanese equities, driven by corporate governance reforms, the yen's weakness and AI tailwinds, according to Bloomberg News report.
South Korea's Kospi was down 0.43% and Australia's S&P/ASX 200 dropped 0.28%.
Hong Kong Hang Seng index futures were at 26,229, compared with the index's last close of 26,394.26.
US President Donald Trump on Friday said that the war in Iran "should be ending pretty soon" hours after he confirmed that Israel and Lebanon had agreed to a 10-day ceasefire. Iran's parliament speaker has said that Israel halting attacks on Lebanon is a key condition for US-Iran negotiations to start.
Follow US-Israel-Iran War Live News Updates.
Wall Street
Futures for S&P 500 futures and Nasdaq 100 were trading around the flatline and contracts tied to the Dow Jones Industrial Average rose by 71 points, or more than 0.1%.
During Thursday's regular session, the S&P 500 gained 0.26% and the Nasdaq 0.36% to settle at record highs. The Dow Jones Industrial Average added 115 points, or 0.24%.
Oil Prices
Oil prices fell in early Asian trading after Trump expressed optimism about securing a permanent ceasefire with Iran ahead of the expiry of the current truce next week. International benchmark Brent slipped 1.4% to around $98 a barrel, paring gains from the previous session. West Texas Intermediate fell 1.43% to $93.34.
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