CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Friday, despite the broadly positive cues from Wall Street overnight, as traders remain cautiously optimistic on hopes for an end to hostilities in the Middle East. Concerns remain about the fragility of any settlement as Tehran seems to be adamant with their nuclear program. Asian markets ended mostly higher on Thursday.
US President Donald Trump said Tehran had agreed to terms including abandoning ambitions for a nuclear weapon, although Iranian officials have yet to verify these claims.
According to reports, the warring nations are considering extending the ceasefire by two weeks in order to allow more time for talks. There is optimism about a second round of peace talks between the U.S. and Iran.
Adding to the positive sentiment, President Donald Trump announced in a post on Truth Social that Israel and Lebanon have agreed to a 10-day ceasefire.
The ongoing complete blockade on Iranian ports across the Strait of Hormuz by the U.S. naval forces with an aim to cripple Iranian oil exports has accelerated crude oil and energy supply concerns, keeping energy prices volatile.
The Australian stock market is trading modestly lower on Friday, following the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in gold miners and financial stocks partially offset by gains in energy and technology stocks.
The benchmark S&P/ASX 200 Index is losing 21.30 points or 0.24 percent to 8,933.70, after hitting a low of 8,902.40 earlier. The broader All Ordinaries Index is down 18.10 points or 0.20 percent to 9,155.50. Australian stocks closed modestly lower on Thursday.
Among major miners, Rio Tinto and BHP Group are edging down 0.3 to 0.4 percent each, while Mineral Resources is surging more than 5 percent and Fortescue is gaining almost 1 percent.
Oil stocks are mostly higher. Woodside Energy and Santos are gaining almost 1 percent each, while Beach energy is edging up 0.2 percent. Origin Energy is edging down 0.5 percent.
Among tech stocks, Afterpay-owner Block and Xero are gaining more than 1 percent each, while WiseTech Global is adding almost 1 percent, Appen is advancing almost 2 percent and Zip is soaring almost 12 percent after the consumer lender it upgraded its guidance for the full-year 2026 following the strong third quarter.
Among the big four banks, National Australia Bank and Commonwealth Bank are losing almost 1 percent each, while Westpac is declining more than 1 percent and ANZ Banking is edging down 0.4 percent.
Gold miners are mostly lower. Northern Star Resources is declining more than 1 percent, Evolution Mining is losing more than 3 percent, Newmont is edging up 0.1 percent and Resolute Mining is down more than 1 percent, while Genesis Minerals is gaining more than 1 percent.
In the currency market, the Aussie dollar is trading at $0.716 on Friday.
The Japanese market is trading significantly lower on Friday, snapping a three-session winning streak, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 59,050 level, with weakness in financial stocks and a mixed performance in most other sectors.
The benchmark Nikkei 225 Index closed the morning session at 58,930.87, down 587.47 points or 0.99 percent, after hitting a low of 59,381.25 earlier. Japanese shares ended sharply higher on Thursday.
Market heavyweight SoftBank Group is losing almost 2 percent and Uniqlo operator Fast Retailing is edging down 0.5 percent. Among automakers, Toyota is losing almost 1 percent, while Honda is edging up 0.5 percent.
In the tech space, Advantest is edging up 0.5 percent, while Screen Holdings is sliding more than 5 percent and Tokyo Electron is declining more than 3 percent.
In the banking sector, Sumitomo Mitsui Financial and Mizuho Financial are losing almost 2 percent each, while Mitsubishi UFJ Financial is declining almost 3 percent.
Among the major exporters, Sony and Canon are edging up 0.3 to 0.4 percent each, while Mitsubishi Electric is losing almost 2 percent and Panasonic is down more than 1 percent.
Among other major gainers, SHIFT is soaring more than 8 percent and BayCurrent is surging more than 5 percent, while Nintendo, Fujitsu and Yokohama Rubber gaining more than 3 percent each. Recruit Holdings and Renesas Electronics are advancing almost 3 percent each.
Conversely, Sumco is tumbling almost 7 percent, Sumitomo Metal Mining is declining more than 5 percent and Resonac Holdings is losing more than 4 percent, while Lasertec, Kioxia Holdings and Marubeni are sliding more than 3 percent each. Ebara, Nomura Holdings, Konica Minolta, Shimizu, Mitsubishi Materials, Dai-ichi Life Group and Mitsubishi are down almost 3 percent each.
In the currency market, the U.S. dollar is trading in the lower 159 yen-range on Friday.
Elsewhere in Asia, and are up 2.2 and 1.9 percent, respectively. New Zealand, China, Hong Kong, Singapore, South Korea, Malaysia and Taiwan are lower by between 0.1 and 0.9 percent each. Indonesia is bucking the trend and is up 0.4 percent.
On Wall Street, stocks fluctuated over the course of the trading session on Thursday but largely maintained a positive bias before ending the day moderately higher. The Nasdaq and the S&P 500 added to the strong gains posted over the few days, reaching new record closing highs. The major averages all finished the day in positive territory. The Nasdaq climbed 86.69 points or 0.4 percent to 24,102.70, the S&P 500 rose 18.33 points or 0.3 percent to 7,041.28 and the Dow increased 115.00 points or 0.2 percent to 48,578.72.
Meanwhile, the major European markets turned in a mixed performance on the day. While the French CAC 40 Index edged down 0.1 percent, the U.K.'s FTSE 100 Index rose 0.3 percent and the German DAX Index climbed 0.4 percent.
Crude oil prices surged on Thursday as concerns of supply disruptions continue despite upcoming peace talks between the U.S. and Iran to end the month-long gulf war. West Texas Intermediate crude for May delivery was up $3.45 or 3.78 percent at $94.74 per barrel.
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