Asia-Pacific markets mostly traded lower Friday, as concerns grew over renewed hostilities between Iran and the US amid a fragile ceasefire, reports CNBC.
The US and Iran traded fire in the Strait of Hormuz, with each side claiming the other initiated the attack.
South Korea's Kospi rose in choppy trade, ending Friday's session 0.11% higher at 7,498, while the small-cap Kosdaq added 0.71% to 1,207.72.
Japan's Nikkei 225 slipped 0.19% to 62,713.65 amid some profit-taking after hitting a record high on Thursday. Toyota Motor fell 2.18% after it reported that its fourth-quarter operating profit had slumped 49%, weighed down by US tariffs.
Australia's S&P/ASX 200 lost 1.51% at 8,744.40.
Mainland China's CSI 300 index was trading 0.58% lower at 4,871.91, while Hong Kong's Hang Seng index last traded down 0.85% in the last hour of afternoon trade on Friday.
India's Nifty 50 declined 0.67%.
European shares retreat
European shares dropped on Friday, with an escalation in US and Iran fighting sending oil prices higher and dampening hopes that a diplomatic solution could be close.
US President Donald Trump said the ceasefire was still in effect despite forces clashing in the Gulf, with Washington awaiting a response from Tehran to its proposal to end the conflict.
The pan-European STOXX 600 fell 0.8% to 611.69 points as of 0703 GMT. Major regional markets mirrored the move, with Germany's DAX and London's FTSE 100 down 0.9% and 0.5%, respectively.
European equities have remained sensitive to geopolitical headlines, with the region's energy dependence weighing on markets and raising concerns over the impact on inflation and growth.
Asia markets mostly edge lower
FE Team | Published: May 08, 2026 22:06:02
Asia markets mostly edge lower
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