Asian Shares Mixed As Mideast Concerns Linger

(RTTNews) - Asian stocks ended mixed on Friday amid lingering tensions around Israeli strikes across Lebanon and the blockade of the Strait of Hormuz, despite the ceasefire agreement.

According to ship-tracking data, just seven ships passed through the strait in the past 24 hours against a normal daily flow of around 140.

Israel and Hezbollah exchanged strikes overnight as U.S. President Donald Trump criticized Iran's handling of the Strait of Hormuz and warned Tehran against charging fees on oil tankers.

Gold steadied in Asian trade and was set for a third weekly gain ahead of key U.S. inflation data due later in the day.

The dollar headed for its largest weekly drop since January, buoyed by the two-week U.S.-Iran ceasefire agreement.

Brent crude prices rose nearly 2 percent toward $98 a barrel ahead of scheduled talks next week to address broader ceasefire negotiations.

China's Shanghai Composite index rose 0.51 percent to 3,986.22 after the release of mixed inflation data.

Official data showed that China's factory-gate prices in March turned positive for the first time in more than three years, driven by higher import costs linked to West Asia tensions. The consumer price index rose 1 percent year on year in March.

Hong Kong's Hang Seng index added 0.55 percent to close at 25,893.54 as thematic stocks surged across the board, boosted by the news of the Hong Kong Monetary Authority granting its first three stablecoin licenses.

Japanese markets rallied due to investor optimism over corporate earnings and ongoing investment in the technology sector. Investors shrugged off data that showed producer prices in the country rose the most in four months in March.

The Nikkei average jumped 1.84 percent to 56,924.11 while the broader Topix index settled marginally lower at 3,739.85.

Seoul stocks closed sharply higher on foreign investor buying. The Kospi average climbed 1.40 percent to 5,858.87 as the Bank of Korea held rates steady for a seventh straight meeting. Tech heavyweights Samsung Electronics and SK Hynix gained 1 percent and 2.9 percent, respectively.

Australian markets ended slightly lower but notched their best weekly gain since October 2022. The benchmark S&P/ASX 200 slipped 0.14 percent to 8,960.60 but surged more than 4 percent during the week.

The broader All Ordinaries index also closed 0.14 percent lower at 9,155.80, with mining and energy stocks pacing the decliners.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index fell 0.70 percent to 13,181.44 after the release of weak manufacturing data, with activity slipping to a four-month low in March.

U.S. stocks reversed early losses to end higher overnight after Israel agreed to direct talks with Lebanon "as soon as possible", bolstering expectations for a peaceful resolution to the six-week Middle East conflict.

In economic releases, PCE inflation held firm in February as core prices matched forecasts.

Personal income fell 0.1 percent in the month, missing forecasts for a 0.3 percent rise, while personal spending rose 0.5 percent, meeting expectations.

Fourth-quarter GDP growth was revised lower to a 0.5 percent rate, while jobless claims rebounded last week to their highest level since February.

The S&P 500 rose 0.6 percent and the tech-heavy Nasdaq Composite surged 0.8 percent to clock their seventh daily gain, while the Dow advanced 0.6 percent.