Asian stocks closed mixed on Friday as geopolitical tensions persisted, particularly surrounding Israeli military actions and the blockade of the Strait of Hormuz. Despite a recent ceasefire, only seven ships passed through the strait in the last 24 hours, significantly below the usual volume, raising concerns about oil supply. Gold prices stabilized, aiming for a third consecutive weekly gain, while the dollar faced its largest weekly decline since January amid easing tensions.
Sector performance varied across the region. China’s Shanghai Composite rose 0.51% following mixed inflation data, while Japan’s Nikkei surged 1.84% on optimism over corporate earnings. In South Korea, the Kospi gained 1.40% due to foreign buying, particularly in tech stocks like Samsung and SK Hynix. Conversely, Australian markets dipped slightly, though they recorded their best weekly performance since October 2022.
The key takeaway for market professionals is the influence of geopolitical developments on commodity prices and regional stock performance, underscoring the importance of monitoring global tensions alongside economic indicators.
Source: nasdaq.com