Asia-Pacific markets were mostly lower on Friday as concerns grew about a flare-up of hostilities between Iran and the United States amid an uneasy ceasefire.
The United States and Iran engaged in a gunfight in the Strait of Hormuz, with each side claiming the other had launched the attack.
Despite the escalation, President Donald Trump insisted in a call with ABC News reporters late Thursday that the ceasefire remains in effect, calling the attack “just a love tap.”
In a subsequent Truth Social post, President Trump claimed that the United States had “completely destroyed” the Iranians involved in the exchange, which included small boats and drones, which he said “fell into the ocean more beautifully than ever, like a butterfly falling into a grave!”
He reiterated that Iran would be exposed to further attacks if it did not agree to the nuclear deal.
“Just like we knocked them out again today, if they don’t sign the deal, we’re going to knock them out harder and more violently in the future, fast!” Trump wrote.
Crude oil futures pared early gains. of west texas intermediate As of 3:35 a.m. ET, June futures were up 0.41% at $95.2 a barrel. brent crude oil July futures rose 0.81% to $100.87 per barrel.
South Korea’s Kospi rose in volatile trading, ending Friday’s session 0.11% higher at 7,498, while the small-cap Kosdaq rose 0.71% to 1,207.72.
Japanese Nikkei Stock Average After hitting a record high on Thursday, the stock fell 0.19% to 62,713.65 as some profit-taking took place. Toyota Motor Corporation reported a 49% drop in fourth-quarter operating profit, weighed down by U.S. tariffs, and shares fell 2.18%.
Australia’S&P/ASX 200 It fell 1.51% to 8,744.40.
Mainland China’s CSI300 index was down 0.58% at 4,871.91, while Hong Kong’s Hang Seng index traded 0.85% lower in the final hour of Friday afternoon trading.
indian nifty 50 It fell by 0.67%.
