The Ibovespa gained 0.5% to close at 184,108 on Friday, as investors awaited Iran’s response to a US proposal aimed at ending the conflict in the Middle East. Banks led gains, with Itaú rising 1.1%, while other notable performers included Vale (+0.9%), WEG (+2.7%), and Azzas (+1.1%). Petrobras fell 1.2% as uncertainty over a potential peace deal persisted and clashes near the Strait of Hormuz continued. Elsewhere, Cemig (+0.9%), which is set to release Q1 2026 results later in the day, approved the election of Alexandre Ramos Peixoto as CEO. Banco do Brasil (+0.5%) said it renegotiated more than R$430 million in customer debt over two days. Embraer plunged 11.4% after reporting adjusted net income of R$145.4 million in Q1, down 51.5% from a year earlier. On the data front, revenue in Brazil’s manufacturing industry rose 3.8% in March from February, though growth remained weaker than a year earlier.

Ibovespa Rises as Investors Await US-Iran Deal

The S&P/TSX Composite gained 0.6% to close at 34,078 on Friday, as investors assessed the North American labor backdrop and the outlook for Middle East energy supply. Although clashes continued and attacks on the UAE renewed tensions near the Strait of Hormuz, the US is still awaiting Iran’s response to its proposal to end the conflict, keeping oil prices elevated. Meanwhile, the unexpected decline in Canadian employment reinforced expectations that the Bank of Canada will refrain from raising interest rates this year, supporting equities and bank stocks. BMO and Royal Bank of Canada both gained 0.5%. On the earnings front, Enbridge (-0.5%) and Wheaton Precious Metals (+5.7%) both reported results above expectations. Cardinal Energy (+1.4%) posted higher first-quarter revenue on record production, while Emera (+1.1%) reported adjusted EPS above forecasts. Rogers Sugar (+0.3%), however, posted weaker-than-expected second-quarter revenue.

TSX Gains as Dovish BoC Bets Offset Middle East Risks

The Dow Jones Index gained 12 points or 0.02 percent on Friday to close at 49609 points. Gains were led by Cisco Systems (4.77%), Boeing (2.97%) and UnitedHealth (2.67%). Biggest losers were Salesforce (-3.02%), McDonalds (-2.80%) and Home Depot (-1.51%).

The Dow Jones Index Closes 0.02% Higher

The S&P 500 rose 0.8% to close at 7,399 on Friday, while the Nasdaq Composite gained 1.7% to a record 26,247, with both indexes hitting fresh highs. The Dow Jones Industrial Average edged up 12 points to 49,609. Sentiment was supported by stronger than expected US labor data, as nonfarm payrolls increased by 115,000 in April, beating forecasts, while the unemployment rate held at 4.3%. Investors also monitored renewed clashes between the US and Iran in the Strait of Hormuz, though President Donald Trump said the ceasefire remained intact. Markets continued to await Tehran’s response to a US proposal aimed at ending the conflict. Meanwhile, optimism around AI spending boosted technology shares, with Micron Technology and Sandisk surging sharply. All three major indexes ended the week higher, supported by strong corporate earnings and continued strength in tech stocks.

S&P 500, Nasdaq Rise to Record High

The CAC 40 fell 1.1% to close at 8,113 on Friday, extending the previous session’s losses as renewed tensions between the US and Iran rattled investor sentiment. Three US Navy destroyers reportedly intercepted Iranian attacks in the Strait of Hormuz and carried out retaliatory strikes, raising fears of a broader regional conflict and pushing oil prices higher. European markets remained vulnerable to developments in the Middle East due to the region’s reliance on imported energy and concerns that higher oil prices could fuel inflation and weigh on economic growth. US President Trump warned that the EU could face significantly higher tariffs if trade agreements are not reached. Most sectors traded lower, with financial stocks BNP Paribas (-1.8%) and AXA (-1.3%) among the main decliners. Luxury names LVMH (-1.2%) and Hermès (-2.4%) also fell amid weaker risk appetite, while industrials Airbus (-1.9%) and Safran (-2.9%) declined. In contrast, TotalEnergies gained 0.7%.

CAC 40 Falls as US-Iran Tensions Weigh

The FTSE MIB closed flat at 49,289 on Friday as investors weighed renewed tariff threats and escalating geopolitical tensions. US President Donald Trump warned that the European Union could face significantly higher tariffs as early as July 4 if it does not reduce duties on US imports to zero. The comments followed a call with European Commission President von der Leyen, who said negotiations were progressing toward lowering trade barriers. Markets were also pressured by heightened tensions in the Middle East after the US carried out strikes on Iranian military targets in response to attacks on three US Navy destroyers in the Strait of Hormuz. Financials traded lower, with UniCredit down 1.3% and Intesa Sanpaolo losing 2.0%, despite the latter reporting stronger-than-expected Q1 2026 results. Leonardo dropped 3.2% following the appointment of Lorenzo Mariani as CEO. In contrast, energy-related stocks advanced, with Eni up 1.7%, Prysmian gaining 5.8%, and Tenaris rising 2.8%.

FTSE MIB Flat Amid Geopolitical and Trade Tensions

Frankfurt's DAX 40 closed about 1.3% lower at 24,339 on Friday, extending losses from the prior day, mirroring a broadly negative sentiment across Europe. Traders remained cautious amid reports of military clashes in the Strait of Hormuz, which raised doubts about the deal that could potentially restore energy flows from the Persian Gulf. At the same time, US President Trump on Thursday vowed to impose “much higher” tariffs on the EU by July 4 if the bloc fails to reduce its tariffs on US goods to zero. Rheinmetall plunged more than 15% to top losers after a profit miss on Thursday and JPMorgan’s downgrade to neutral from overweight, which also saw its price target slashed to €1,500 from €2,130. Daimler Truck followed closely, falling nearly 8%. Commerzbank dropped 4.2% as the bank upgraded its financial targets following solid results and set out its strategy for the coming years amid UniCredit’s takeover bid, including plans to cut 3,000 jobs. For the week, the index added 0.2%.

DAX Closes on Negative Note

European stocks closed sharply lower for a second session on Friday as fresh strikes between Iran and the US added to risks of energy shortages for major European importers. The Eurozone's STOXX 50 fell 1.1% to 5,905 and the pan-European STOXX 600 dropped 0.8% to 612. Tankers and military vessels were reportedly hit during the day to dim expectations that the US and Iranian delegations were closer to agreeing on an end to the war, driving markets to reconsider the positions taken during Wednesday when the consensus saw more optimism in the conflict's end. Risk-sensitive consumer cyclical stocks closed lower, with Hermes, Adidas, and Inditex dropping more than 2.5%. Meanwhile, Safran fell 3% for another session of sharp selling, and Rheinmetall sank 10% as investors continued to assess the company's earnings report from yesterday. Meanwhile, Intesa Sanpaolo dropped 2% after posting its earnings report.

European Stocks Close Lower for 2nd Session

The FTSE MIB Index dropped 1 points or 0.00 percent on Friday to close at 49290 points. Losses were led by Leonardo SpA (-4.08%), Fincantieri (-3.69%) and Intesa Sanpaolo (-2.43%). Offsetting the fall, top gainers were Prysmian (6.68%), Tenaris (2.53%) and Poste Italiane (2.25%).

The FTSE MIB Index Closes 0.00% Lower

The DAX Index decreased 325 points or 1.32 percent on Friday to close at 24339 points. The decline was led by Rheinmetall (-9.08%), Allianz (-5.04%) and MTU Aero Engines AG (-4.13%).

The DAX Index Closes 1.32% Lower

The FTSE 100 Index dropped 49 points or 0.48 percent on Friday to close at 10228 points. Losses were led by Babcock International (-4.32%), Rolls-Royce (-3.29%) and Easyjet Plc (-3.13%). Offsetting the fall, top gainers were BT (5.64%), JD Sports Fashion (4.36%) and Whitbread (2.80%).

The FTSE 100 Index Closes 0.48% Lower

The S&P/TSX Composite gained more than 0.5% to trade above 34,000 on Friday, as investors assessed the North American labor backdrop and the outlook for Middle East energy supply. Although clashes continued and attacks on the UAE renewed tensions near the Strait of Hormuz, the US is still awaiting Iran’s response to its proposal to end the conflict, keeping oil prices elevated. Meanwhile, the unexpected decline in Canadian employment reinforced expectations that the Bank of Canada will refrain from raising interest rates this year. Most banks traded higher, with BMO up more than 1% and Canadian Imperial Bank advancing nearly 1%. On the earnings front, Enbridge (-0.1%) and Wheaton Precious Metals (+4.1%) both reported results above expectations. Cardinal Energy (-0.5%) posted higher first-quarter revenue on record production, while Emera (+1.4%) reported adjusted EPS above forecasts. Rogers Sugar (+1.7%), however, posted weaker-than-expected second-quarter revenue.

TSX Gains as Markets Assess Jobs Data

The Dow Jones Index is picking up 114 points or 0.23 percent on Friday. Gains are led by Cisco Systems (3.26%), Nvidia (2.80%) and Apple (2.22%). Biggest losers are IBM (-2.16%), McDonalds (-1.22%) and Visa (-1.15%).

The Dow Jones Index Opens 0.23% Higher

The Ibovespa gained nearly 1% to hover near the 185,000 mark on Friday, as investors awaited Iran’s response to a US proposal aimed at ending the conflict in the Middle East. Banks led gains, with Itaú rising nearly 1.5%, while other notable performers included Vale (+1.2%), WEG (+1.9%), Axia (+1.0%), and Rede D’Or. Petrobras edged higher as uncertainty over a potential peace deal persisted and clashes near the Strait of Hormuz continued. Elsewhere, Cemig (+1.1%), which is set to release Q1 2026 results later in the day, approved the election of Alexandre Ramos Peixoto as CEO. Banco do Brasil (+1.6%) said it renegotiated more than R$430 million in customer debt over two days. Embraer (-6.2%) fell after reporting adjusted net income of R$145.4 million in Q1, down 51.5% from a year earlier. On the data front, revenue in Brazil’s manufacturing industry rose 3.8% in March from February, though growth remained slower than a year earlier.

Ibovespa Rises on Middle East Peace Hopes

US equities rebounded to record highs on Friday as the strong earnings prospectives and robust labor market signals offset risks from the war in Iran. The S&P 500 and Nasdaq were 0.5% higher at new records, while the Dow added over 100 points. Companies in the AI infrastructure and software space continued to rise after leading the rally this week. Their recent earnings cited stronger productivity and growing demand that is due to be undeterred by macroeconomic headwinds in the US economy. Strikes between Iran and US pushed back any hopes of a deal that restores energy supply from the Persian Gulf. Also, the jobs report pointed to back-to-back months of higher employment gain than expected, strengthening the rhetoric from hawkish FOMC members as higher core inflation and surging energy prices backed bets of a Fed hike this year. Tesla and Nvidia were over 1% higher, while AMD gained 2% to be on track for a 15% surge this week.

US Stocks Rebound to Records

Futures tracking the S&P/TSX Composite were higher on Friday as markets assessed the North American labor backdrop and the outlook of energy supply from the Middle East. Although clashes continued and attacks on the UAE renewed tensions near the Strait of Hormuz, the US is still awaiting Iran’s response to its proposal to end the conflict, underpinning oil prices at elevated levels. Still, the unexpected drop in Canadian employment consolidated bets that the BoC will refrain from hiking interest rates this year. On the earnings front, Enbridge and Wheaton Precious Metals both reported results above expectations. Cardinal Energy posted higher first-quarter revenue on record production. Emera’s adjusted EPS also topped forecasts. In contrast, Rogers Sugar reported weaker-than-expected second-quarter revenue.

TSX Futures Edge Higher as Ceasefire Holds

US equity futures extended their rebound to record highs on Friday as the strong earnings prospectives and robust labor market signals offset risks from the war in Iran. Contracts for the S&P 500 and Nasdaq were 0.6% higher at new records, while those for the Dow added 150 points. Companies in the AI infrastructure and software space continued to rise after leading the rally this week. Their recent earnings cited stronger productivity and growing demand that is due to be undeterred by macroeconomic headwinds in the US economy. Strikes between Iran and US pushed back any hopes of a deal that restores energy supply from the Persian Gulf. Also, the jobs report pointed to back-to-back months of higher employment gains than expected, strengthening the rhetoric from hawkish FOMC members as higher core inflation and surging energy prices backed bets of a Fed hike this year. Tesla and Nvidia were 1% higher premarket, while AMD gained 2% to be on track for a 15% surge this week.

US Futures Rebound to Record Highs

US equity futures rebounded to record highs on Friday as the strong earnings prospectives recently delivered by corporate giants offset risks from the war in Iran. Contracts for the S&P 500 and Nasdaq were 0.5% higher at new records, while those for the Dow added 150 points. Companies in the AI infrastructure and software space continued to rise after leading the rally this week. Their recent earnings cited stronger productivity and growing demand that is due to be undeterred by macroeconomic headwinds in the US economy. Strikes between Iran and US pushed back any hopes of a deal that restores energy supply from the Persian Gulf. Also, incoming jobs data is expected to show back-to-back growth in employment, strengthening the rhetoric from hawkish FOMC members as higher core inflation and surging energy prices backed bets of a Fed hike this year. Tesla and Nvidia were 1% higher premarket, while AMD gained 2% to be on track for a 15% surge this week.

US Futures Rise to Record

India’s BSE Sensex closed about 0.7% down at 77,328 on Friday, marking the second day of losses, as investor caution rose amid renewed US–Iran hostilities that pushed oil prices higher and ongoing corporate earnings. The US and Iran reportedly exchanged fire in the Middle East, despite both sides downplaying the situation. President Trump insisted the truce remained in effect as Washington awaited Tehran’s response to a new peace proposal. Banking and financial stocks remained under pressure, while gains in IT and consumer-focused stocks helped limit losses. State Bank of India (SBI) dropped 6.6% after its quarterly earnings announcement failed to impress investors. Profits increased yoy in Q4FY26 but missed analysts estimates. Banking peers such as HDFC Bank (-1.8%), Axis Bank (-1.8%) and ICICI Bank (-1%), all declined. On the upside, Titan Company climbed 4.8% and led gains, after the company's consolidated net profit jumped over 35%. For the week, the index logged a 0.5% gain.

Sensex Finishes on Negative Note

The SENSEX Index decreased 500 points or 0.64 percent on Friday to close at 77344 points. The decline was led by Bajaj Finance (-1.88%), HDFC Bank (-1.86%) and Axis Bank (-1.76%). On the upside, the strongest performers were Titan Company (4.86%), Asian Paints (2.74%) and Adani Ports (1.63%).

The SENSEX Index Closes 0.64% Lower

The FTSE MIB fell 0.5% to 49,000 on Friday, extending its pullback from record highs, as tariff threats and geopolitical tensions weighed on sentiment. President Trump warned that the European Union could face significantly higher tariffs as early as July 4 if it does not cut duties on US imports to zero. The remarks followed a call with European Commission President von der Leyen, who said negotiations were still progressing and that the EU was making “good progress” toward lowering trade barriers ahead of the deadline. Meanwhile, markets were also pressured by heightened tensions in the Middle East after the US conducted strikes on Iranian military targets in response to attacks on three US Navy destroyers in the Strait of Hormuz. Financial stocks led losses, with UniCredit (-1.4%), Intesa Sanpaolo (-1.2%), BPER Banca (-2.2%), and Banca Mediolanum (-1%), among the notable laggards. For the week, the index is heading for a second weekly advance.

FTSE MIB Extends Retreat

Frankfurt's DAX 40 fell nearly 1% to around 24,450 on Friday, extending losses from the previous session, as traders weighed renewed military clashes in the Strait of Hormuz and further tariff threats. The United States reportedly struck military targets in Iran after the country fired on three naval destroyers sailing in the Strait, amid fragile negotiations over a possible peace framework. At the same time, US President Trump vowed to impose “much higher” tariffs on the European Union by July 4 if the bloc fails to reduce its tariffs on US goods to zero. Rheinmetall shares came under renewed pressure, plunging more than 10% after falling nearly 7% in the day before, following JPMorgan’s downgrade to neutral from overweight. Commerzbank fell over 1% after publishing its quarterly results.

DAX Down for 2nd Day

The FTSE 100 fell more than 0.5% on Friday, extending a 1.6% loss in the previous session, as oil prices climbed back above $100 per barrel amid renewed Middle East tensions. Losses were broad-based, with financial, industrial and energy stocks leading the decline. Intertek dropped more than 4% after rejecting another takeover approach from EQT, saying the offer undervalued the company. IAG fell over 2.5% after issuing a profit warning tied to higher fuel costs, although the airline group said demand remains strong and it is 70% hedged on jet fuel for the rest of the year. Rightmove (-0.4%) reaffirmed its full-year outlook despite slower activity early in 2026. Investors also digested the results of UK local and devolved elections. On the data front, Halifax reported UK house prices slipped 0.1% in April, while annual growth slowed to 0.4%, leaving the average home price at £299,313. The FTSE 100 is down more than 1.5% for the week.

FTSE 100 Falls on Friday

The CAC 40 fell 1% to 8,123 on Friday, extending the previous session’s losses as renewed tensions between the US and Iran rattled investor sentiment. Three US Navy destroyers reportedly intercepted Iranian attacks in the Strait of Hormuz and carried out retaliatory strikes, raising fears of a broader regional conflict and driving oil prices higher. European markets remained vulnerable to developments in the Middle East amid the region’s reliance on imported energy and concerns that rising oil prices could stoke inflation and weigh on economic growth. Sentiment was further pressured after Trump warned that the EU could face significantly higher tariffs if trade agreement were not met by July 4. Most sectors traded lower, with financial stocks BNP Paribas (-1.8%), AXA (-1.5%), Crédit Agricole (-1.4%), and Société Générale (-1.7%) among the main decliners. Despite the recent pullback, the CAC 40 remains on track for modest gains.

French Stocks Extend Losses, Still Set for Weekly Gain

Stocks in Europe moved lower on Friday, with the STOXX 50 falling 1.1% and the STOXX 600 down 0.8%, extending losses from the previous session. Investor sentiment weakened after US President Trump threatened to impose “much higher” tariffs on the European Union by July 4 if the bloc fails to reduce its tariffs on US goods to 0. The warning followed a call with European Commission President von der Leyen, who nevertheless said the EU was making “good progress” toward lowering tariffs ahead of the deadline. Escalating tensions in the Middle East also weighed on markets after the US launched strikes on Iranian military targets following attacks on three Navy destroyers in the Strait of Hormuz. Meanwhile, earnings season remained in focus. IAG fell around 3% after lowering its annual profit outlook due to rising jet fuel costs, while Intesa Sanpaolo slipped 1.1% ahead of its quarterly results. Despite Friday’s decline, the STOXX 50 ended the week up 1.5%, while the STOXX 600 gained 0.8%.

European Stocks Lower as New Tariff Threats, US-Iran War Weigh

The FTSE 100 Index is dropping 81 points. Leading the losses are Intertek (-4.14%), International Airlines Group (-3.99%) and Endeavour (-1.93%). Top gainers were BT (2.75%), Games Workshop Group (0.69%) and Vodafone (0.52%).

The FTSE 100 Index Opens 0.79% Lower

The DAX Index is losing 282 points. Losses were led by Rheinmetall (-2.97%), MTU Aero Engines AG (-1.85%) and Commerzbank (-1.76%).

The DAX Index Opens 1.14% Lower

The benchmark KOSPI rose 0.11% to close at a fresh record high of 7,498 on Friday, extending its winning streak to a fourth straight session, as gains in AI-related chip stocks continued to support investor sentiment. The index opened lower amid risk aversion across Asian markets on news of renewed US-Iran tensions, but sentiment later stabilized after US President Donald Trump said the ceasefire with Iran remained in effect. Large-cap performance was mixed, with SK Hynix (1.93%), Hyundai Motor Company (7.17%), and Kia Corporation (4.38%) posting gains, while Samsung Electronics (-1.10%), Doosan Enerbility (-4.99%), and HD Hyundai Heavy Industries (-5.05%) declined. Optimism surrounding Korea’s AI and semiconductor outlook continued to underpin the market, following strong earnings momentum and robust export demand tied to the global AI boom. Additional support came after South Korea posted a record current account surplus in March, driven by a sharp surge in semiconductor exports.

South Korean Shares Set New Record

The Shangai Composite Index rose 0.1 points or 0.00 percent on Friday to close at 4180 points. Leading the gains are Datang Intl (9.92%), Air China (3.85%) and Avic Aviation Engine (3.66%). Top losers were China Fortune (-5.17%), China Coal (-2.57%) and Sany Heavy Industry (-2.43%).

The Shangai Composite Index Closes Unchanged

The Nikkei 225 Index slipped 0.19% to close at 62,713, while the broader Topix Index fell 0.29% to 3,829 on Friday, paring gains from the previous session as renewed fighting between the US and Iran in the Strait of Hormuz weighed on sentiment and revived geopolitical concerns. Still, the Nikkei and Topix indexes advanced 5.38% and 2.7%, respectively, for the week, supported by an earlier rally in tech and AI-linked stocks.  In corporate developments, Sony announced plans to repurchase up to ¥500 billion worth of its shares and projected an 11% increase in operating profit for the fiscal year ending March 2027, driven by solid growth in its music and smartphone image sensor businesses. Meanwhile, Nintendo said it will raise the retail price of the Switch 2 after forecasting weaker sales for its flagship console amid the ongoing memory chip shortage. Elsewhere, Toyota reported a 49% decline in fourth-quarter operating profit as US tariffs weighed on earnings.

Japanese Post Strong Weekly Gains

The S&P/ASX 200 tumbled 134 points, or 1.5%, to finish at 8,744 on Friday, ending two days of gains as profit-taking and broad sector weakness dragged the market lower. The selloff followed Wall Street’s slump overnight and renewed Middle East tensions after U.S. and Iranian forces exchanged fire in the Strait of Hormuz, each blaming the other for the escalation. Locally, sentiment was further pressured by the Reserve Bank’s third rate hike this year, lifting the cash rate to 4.35% amid persistent inflation risks and second-round price pressures.  Losses were broad-based, led by financials, retail trade, logistics, and energy minerals. The four major banks tumbled between 1.5% and 4.8%. Other notable laggards included Wisetech Global (-4.6%), ASX Ltd. (-3.2%), Bluescope Steel Ltd. (-2.7%), and Lynas Rare Earths Ltd. (-2.5%). Still, markets edged up 0.2% for the week, up for the first time in four weeks, supported by bargain hunting.

ASX 200 Sinks But Logs First Weekly Gain in Four

The Nikkei 225 Index dropped 183 points or 0.29 percent on Friday to close at 62651 points. Losses were led by Yokogawa Electric (-9.24%), Softbank (-4.92%) and Daiwa Securities (-4.87%). Offsetting the fall, top gainers were Sumco (17.31%), Yaskawa Electric (6.85%) and Fanuc (5.71%).

The Nikkei 225 Index Closes 0.29% Lower

European equity markets were set for a weaker open on Friday, extending the previous session’s losses as renewed clashes between the US and Iran in the Strait of Hormuz reignited geopolitical concerns. Three US Navy destroyers transiting the strategic waterway reportedly intercepted Iranian attacks and carried out retaliatory strikes, although President Donald Trump said the ceasefire remains in effect. In Europe, investors will monitor German trade data and UK house price figures for further economic signals. On the corporate front, earnings reports are due from Intesa Sanpaolo, Enel, and International Airlines Group, among others. In premarket trading, futures tied to the Euro Stoxx 50 and Stoxx 600 were both down around 0.6%.

European Stocks Poised for Lower Open

The NZX 50 fell 95 points, or 0.7%, to close at 13,175 on Friday, erasing gains from the previous two sessions as fighting between the US and Iran flared, dampening hopes for an end to the conflict. The broader index retreated from its highest level since April 9, reached a day earlier, tracking a downbeat session on Wall Street overnight, with most sectors trading in the red, led by consumer staples. Caution was also built as investors anticipated the release of US jobs data later today, trade data from China scheduled for this weekend, and Chinese inflation data due next week to guide the economic outlook for both countries. Domestically, traders also await New Zealand's food inflation and manufacturing PMI data due next week. Among the worst performers were Westpac Banking Corp. (-4.3%), Ventia Services Group (-2.5%), A2 Milk (-2.2%), Port of Tauranga (-1.8%), and ANZ Group (-1.5%). For the week, the index rose 1.7%, marking a second consecutive weekly gain.

NZX 50 Ends 0.7% Lower but Posts 2nd Weekly Gain

India’s BSE Sensex fell about 0.6% to open at 77,407 on Friday, following losses from the last session as rising oil prices driven by renewed US-Iran tensions in the Middle East weighed on sentiment and clouded hopes on progress on reopening the Strait of Hormuz. Investors remained cautious after reports that Iran accused the US of violating a month-long ceasefire following retaliatory strikes near the Strait of Hormuz, although President Donald Trump insisted the truce remained in effect as Washington awaited Tehran’s response to a new peace proposal. Heavyweight financial stocks led the decline, with key laggards including Axis Bank (-1.4%), HDFC Bank (-1.4%), Bajaj Finance (-1.0%), Shriram Finance (-0.9%), and ICICI Bank (-0.5%). Other notable losers included Shakti Pumps (-7.2%), Britannia Industries (-4.7%), and Tejas Networks (-2.1%), while top performers were Nuvama (+8.8%) and Shipping Corporation of India (+6.2%). On a weekly basis, the benchmark index is up 0.7% so far.

Sensex Falls as US-Iran Tensions Reignite

Indonesian equities edged down 12 points or 0.1% to 7,167 in early Friday trade, snapping a three-session strength after Wall Street’s overnight retreat amid renewed U.S.–Iran hostilities that rattled a fragile ceasefire. Sentiment was also clouded by caution ahead of April foreign reserves data due later today, with March holdings stuck near a two-year low. Traders also braced for several data releases from the central bank next week, including April consumer confidence and retail sales. Losses were led by basic materials, property, and non-cyclicals, with notable drags from Merdeka Copper Gold (-4.1%), Elang Mahkota Teknologi (-3.1%), Pertamina Geothermal (-2.9%), and Hartadinata Abadi (-2.4%). Still, the market is on track for its first weekly gain in three, up about 2.4% so far, boosted by bargain hunting, resilient Q1 economic output, and mild inflation despite higher non-subsidized fuel prices.

Indonesia Shares Eye First Weekly Rise in Three

The TAIEX, Taiwan’s benchmark stock index, fell 136 points, or 0.3%, to 41,794 in Friday morning trading, erasing gains from the previous four sessions as traders took profits after the index hit a record high for the fourth straight day. The broader index retreated from its record peak reached a day earlier at 41,998 after briefly breaking the 42,000 level intraday, mainly supported by strength in the chip sector. The decline was mainly driven by the electronic technology sector, which fell 0.9% after surging on Thursday. TSMC, which accounts for more than 40% of the total market value, fell 0.4%. The index tracked a downbeat session on Wall Street overnight as traders awaited Iran’s response to the latest US peace proposal. A renewed escalation of tensions in the Middle East also further pressured sentiment. Other major laggards included Delta Electronics (-2.2%), Hon Hai Precision Industry (-1.0%), ASE Technology Holding (-3.0%), and Accton Technology Corp. (-8.0%).

Taiwan Stocks Retreat from Record High on Profit Taking

The Shanghai Composite edged down 0.2% to 4,172 on Friday, while the Shenzhen Component also slipped 0.2% to 15,615, after reaching two-month and over five-year highs, respectively, as market sentiment turned cautious amid renewed US-Iran tensions. Reports indicated that three US Navy destroyers transiting the Strait of Hormuz intercepted Iranian attacks and launched retaliatory strikes, fueling concerns over regional stability and energy security. Meanwhile, investors were also closely watching the upcoming meeting between President Trump and Chinese President Xi Jinping in Beijing on May 14–15. While the White House is reportedly proceeding with preparations for the visit, Chinese officials are said to be uneasy about holding the talks before the US-Iran conflict stabilizes. Energy stocks were among the laggards, particularly PetroChina (-5.5%) and CNOOC (-5.0%). Despite Friday’s slight pullback, both benchmark indices remained on course to post a fifth consecutive weekly gain.

China Stocks Fall as US-Iran Tensions Resurface

Asian equity markets declined on Friday, pulling back from record highs as renewed hostilities between the US and Iran in the Strait of Hormuz revived geopolitical risk concerns. Three US Navy destroyers transiting the strategic waterway reportedly intercepted Iranian attacks and carried out retaliatory strikes, although President Donald Trump said the ceasefire remains in place. Benchmark indexes across Australia, Japan, South Korea, China, and Hong Kong all traded lower amid the cautious sentiment. Despite the pullback, regional markets are still on track to end the week in positive territory, supported by sustained momentum from strong earnings among major technology firms, which continue to underpin confidence in artificial intelligence-driven growth.

Asian Shares Fall on Fresh US-Iran Clashes

The Hang Seng Index fell by 280 points, or 1.1%, to around 26,340 on Friday, reversing gains from the previous sessions as renewed tensions in the Middle East dampened investor sentiment. The US and Iran exchanged fire in the Strait of Hormuz, with both sides accusing each other of initiating the attack, raising fears of further escalation in the region and potential disruption to global energy shipping routes. Locally, a risk-off tone was evident across sectors, as investors engaged in profit-taking and scaled back exposure to equities. However, Hong Kong Exchanges and Clearing proposed reviving gold futures as part of efforts to enhance risk-management tools amid geopolitical uncertainty and increased demand for hedging instruments. Notable laggards included Tencent Holdings (-1.3%), AIA Group (-1.5%), SMIC (-3.1%), Xiaomi (-0.3%), and Sun Hung Kai Properties (-2.0%).

Hong Kong Stocks Slide as US-Iran Conflict Escalates

The benchmark KOSPI fell 0.7% to around 7,440 on Friday, pausing after a record-setting run, as renewed US-Iran tensions triggered profit-taking. Investor sentiment weakened after the US and Iran exchanged fire in the Strait of Hormuz, raising concerns over potential disruptions to global oil supplies. The escalation pushed Brent crude prices back above $100 per barrel and fueled broader risk aversion across Asian markets. Technology shares led the decline, with heavyweight chipmakers Samsung Electronics (-2.0%) and SK Hynix (-0.3%) retreating, alongside LG Energy Solution (-2.2%), Doosan Enerbility (-4.7%), and HD Hyundai Heavy Industries (-5.1%). Still, losses were partly capped by optimism over Korea’s AI and semiconductor outlook, as strong chip demand continued to bolster exports and corporate earnings. Additional support came as South Korea posted a record current account surplus of $37.33 billion in March, driven by a sharp surge in semiconductor exports.

South Korean Shares Pause Record Rally

Australian shares tumbled 106 points, or 1.2%, to 8,773 in early Friday trade, snapping a two-day rebound as Wall Street’s overnight slide and renewed doubts over a U.S.–Iran accord weighed on sentiment. Tehran signaled it would block the reopening of the Strait of Hormuz under “an unrealistic plan,” stoking energy concerns. Locally, inflation worries persisted after the Reserve Bank warned surging fuel costs from the conflict risked second-round price pressures despite three hikes this year. Trade data added to the gloom, showing the first deficit since December 2017 as imports hit records while exports fell. Losses were broad, led by financials, logistics, and retail. Among major laggards were Bluescope Steel (-2.4%), Reece (-1.7%), and Qantas Airways (-1.6%). Meanwhile, the big four banks slid between 1.2% and 3.8%. Still, bargain hunting has left the market up about 0.5% for the week, on track for its first weekly gain in a month.

Australia Stocks Under Strain, Weekly Gains Intact

The Nikkei 225 Index fell 0.4% to around 62,500, while the broader Topix Index dropped 0.6% to 3,817 on Friday, giving back part of the previous session’s gains as renewed fighting between the US and Iran in the Strait of Hormuz revived geopolitical concerns. In Japan, data showed real wages rose for a third consecutive month in March, reinforcing the Bank of Japan’s case for additional interest rate hikes even as the Middle East conflict adds uncertainty to the economic outlook. Among individual stocks, notable declines were recorded in SoftBank Group (-3.2%), Fujikura (-2.7%), Fast Retailing (-2.2%), Lasertec (-2.3%), and Ibiden Co (-8%). Despite Friday’s pullback, Japan’s benchmark indexes remain on track for strong weekly gains after Thursday’s sharp rally, as upbeat earnings from major technology firms strengthened optimism around artificial intelligence and lifted demand for semiconductor-related shares.

Japanese Shares Slip on US-Iran Fighting

US stock futures edged lower on Friday after the major averages declined in the previous session, as renewed exchanges between the US and Iran in the Strait of Hormuz kept geopolitical tensions elevated. Three US Navy destroyers passing through the strategic waterway reportedly intercepted Iranian attacks and carried out retaliatory strikes, though President Trump stated that the ceasefire remains in place. Investors are also turning their attention to the April jobs report, which is expected to show the US economy added 62K jobs last month, sharply below the 178K increase recorded in March. On the corporate side, earnings results are due from companies including Ubiquiti Networks, Wendy’s, and Brookfield Asset Management. In regular trading on Thursday, the Dow fell 0.63%, while the S&P 500 and Nasdaq Composite declined 0.38% and 0.13%, respectively. Nine of the 11 S&P sectors closed in negative territory, with materials, energy, and industrials posting the steepest losses.

US Futures Edge Lower on Mideast Tensions

The NZX 50 dropped 62 points, or 0.5%, to 13,208 in Friday morning trading, halting gains from the previous two sessions and tracking a downbeat session on Wall Street overnight as traders awaited Iran's. The broader index retreated from its highest level since April 9, reached a day earlier, with almost all sectors trading in the red, led by the energy sector. Caution was also built as investors anticipated the release of trade data from China, scheduled for this weekend, as well as Chinese inflation data and US jobs data due next week to guide the economic outlook for both countries. Domestically, traders also await New Zealand's food inflation and manufacturing PMI data due next week. Among the biggest laggards were A2 Milk (-1.8%), Infratil (-1.7%), Briscoe Group (-0.9%), Fisher & Paykel (-0.4%), and Mainfreight (-0.4%). For the week, the index rose 1.3%, marking a second consecutive weekly gain.

New Zealand Stocks Slip but Head for 2nd Weekly Gain

The Ibovespa fell more than 2.4% to close at 183,218 on Thursday, pressured by Petrobras and major banks. Petrobras dropped 2.2% as oil prices declined on expectations that a potential US–Iran agreement could lead to a gradual reopening of the Strait of Hormuz. Banks also traded lower despite strong earnings reports, with Itaú falling 2.4% despite a 10% annual increase in profit, as concerns over delinquency levels weighed on sentiment, while Bradesco lost 3.9% even after reporting a 16.1% rise in earnings. Elsewhere, Sabesp (-3.7%) and B3 (-3.2%) are set to release earnings later in the day.

Ibovespa Slides as Petrobras Weighs

The S&P/TSX Composite Index fell 0.4% to close at 33,857 on Thursday, as investors locked in recent gains ahead of US and Canadian jobs data due Friday. Forecasts point to Canada adding 15,000 jobs in April, with the unemployment rate holding at 6.7%. Energy shares weighed on the index as oil prices declined on expectations that a potential US–Iran agreement could lead to a gradual reopening of the Strait of Hormuz. Canadian Natural Resources fell 2.1%, while Suncor lost 1.0%. Technology stocks provided support, with Shopify rebounding 5.8% after steep losses earlier in the week. Enerflex rose 5.5% after reporting stronger Q1 revenue, while Cascades slipped 2.4% on weaker-than-expected sales. Nutrien dropped 7.5% despite higher quarterly profit. Wheaton Precious Metals fell 2.1% before reporting record revenue, earnings, and cash flow after the close.

TSX Falls as Investors Book Gains and Energy Losses Weigh

The Dow Jones Index decreased 337 points or 0.68 percent on Thursday to close at 49573 points. The decline was led by Caterpillar (-3.34%), JPMorgan (-2.73%) and 3M (-1.90%). On the upside, the strongest performers were Salesforce (3.34%), IBM (2.45%) and Nvidia (1.80%).

The Dow Jones Index Closes 0.68% Lower

US stocks fell from records on Thursday, as investors watched for Iran's response to the US peace proposal that could pave the way for the Strait of Hormuz to reopen. The Dow lost 0.6%, pulling back from the 50,000 mark, while the S&P 500 and Nasdaq fell 0.4% and 0.1%, respectively, easing off record highs. Iran was still reviewing the memorandum sent by the US aimed at ending the conflict and restoring tanker traffic through the strait. At the same time, recent reports indicated that Washington was considering restarting an operation to help secure commercial shipping routes. Among equities, Amazon fell 1.3%, along with semiconductor stocks such as Micron (-3%) and Broadcom (-2.9%). In turn, McDonald's fell 0.1% despite beating earnings estimates.

US Stocks Finish in the Red

US stocks swung lower on Thursday, trimming the sharp gains that culminated in records last session as markets awaited for clarity on energy supply from the Middle East. The Dow lost 0.5% after briefly crossing the 50,000 mark, while the S&P 500 and Nasdaq eased off their records. Iran continued to assess the memorandum sent by the US to end their war and restore tanker flows through the Strait of Hormuz. The possibility of a restart in energy flows from the area drove prices for major energy commodities to tumble in the week, aiding the bond market and pushing back against expectations of rate hikes by the Fed. Chip producer pulled back as markets took profits from their surge last session, with Micron, AMD, and Lam Research dropping around 4%. In turn, McDonald's fell to its lowest in over one year despite beating earnings estimates. Also, Citi gained 1% after announcing a $30 billion share buyback.

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