Stock markets today: Japan’s Nikkei surges as Kospi and CSI 300 slip on tech losses, oil surge
China's Shanghai Composite dropped 0.45 percent, while the blue-chip CSI 300 declined 0.53 percent
Asian stock markets declined on Friday, pressured by weakening technology stocks as U.S.-Iran peace negotiations stalled and oil prices climbed again, while investors assessed slightly firmer inflation data from Japan.
Markets across the region mirrored losses from Wall Street overnight, where tech shares came under strain. Meanwhile, U.S. stock futures edged higher during Asian trading after President Donald Trump announced an extension of the Israel-Lebanon ceasefire.
S&P 500 futures held largely steady, while Nasdaq futures gained 0.40 percent and Dow e-minis dipped 0.20 percent.
Asian stock markets found it difficult to build on recent gains following a strong rally fueled by artificial intelligence-related stocks. Investor sentiment remained pressured by persistent geopolitical tensions in the Middle East. Stalled talks between Washington and Tehran, along with continued disruptions in the Strait of Hormuz, kept crude prices elevated above $105 per barrel, raising inflation concerns and curbing demand for riskier assets.
Trump's decision to extend the Israel-Lebanon ceasefire provided only modest support to markets.
South Korea's Kospi index slipped 0.03 percent, after reaching a record high of 6,557.56 in the previous session. The index remained set for over a 4 percent weekly increase, supported by advances in major chipmaking stocks.
China's Shanghai Composite dropped 0.45 percent, while the blue-chip CSI 300 declined 0.53 percent. Hong Kong's Hang Seng index fell 0.14 percent.
Read: Gold prices set for 3.5 percent weekly decline on growing inflation fears as oil prices rally
In Japan, official data released on Friday showed that core consumer inflation, which excludes fresh food, rose 1.8 percent year-on-year in March, up from 1.6 percent in February, though still below the Bank of Japan's 2 percent target.
The Bank of Japan is scheduled to meet next week and is widely expected to keep interest rates unchanged, while potentially signaling openness to future rate increases.
Japan's Nikkei 225 index gained 0.90 percent after reaching a record high on Thursday, while the broader TOPIX index edged up 0.10 percent.
The Nikkei was on track to post a weekly gain of over 2 percent, supported by strength in technology stocks and corporate earnings.
In other regional markets, Singapore's Straits Times Index declined 0.48 percent, and Australia's S&P/ASX 200 fell 0.5 percent.
Meanwhile, futures linked to India's Nifty 50 rose 0.4 percent.
Currency markets were relatively subdued on Friday, although the U.S. dollar remained on course for a weekly advance as renewed demand for safe-haven assets supported the greenback.
The euro last traded at $1.1677 and was set for a weekly decline of 0.7 percent, while the British pound was steady at $1.3462 and headed for a 0.4 percent loss over the week.
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