Asia stock markets mostly rise on Friday, buoyed by relief that an immediate U.S. strike on Iran seemed to have been averted, with President Trump expected to decide within two weeks. Israel and Iran continued trading attacks, with Israel intensifying strikes on strategic and government targets in Tehran after reports of an Iranian missile hitting a major Israeli hospital. WTI crude oil futures fell to around $73.5 per barrel on Friday, but are still heading for a third consecutive weekly gain, as escalating hostilities in the Middle East continued to fuel fears of regional supply disruptions. Gold fell below $3,360 per ounce on Friday, trading near a one-week low and heading for its first weekly decline in three. Japan ( NKY:IND ) rose 0.07% to above 38,600 on Friday, recouping some losses from the previous session, as investors digested Japan’s latest inflation figures. The Japanese yen strengthened toward 145 per dollar on Friday, recovering some of its recent losses. Japan's core inflation , which excludes fresh food but includes energy, accelerated for the third consecutive month to 3.7% from 3.5% in April, the highest since January 2023. China ( SHCOMP ) rose 0.14% to 3,360 while the Shenzhen Component slipped 0.3% to 10,020 on Friday, and the offshore yuan inched higher to around 7.18 per dollar on Friday as investors digested the latest policy decision from the People's Bank of China. The People's Bank of China left key lending rates unchanged during the June fixing, in line with market expectations. The one-year loan prime rate (LPR) remained at a record low of 3%, while the five-year LPR also stayed at a record low of 3.5%. Hong Kong ( HSI ) rose 0.94% to 23,399 in Friday morning trade, snapping a three-day losing streak amid broad-based sector gains. India ( SENSEX ) rose 0.87% to 81,752 in early trade on Friday, halting losses from the previous two sessions. The Nifty 50 also climbed 0.5% to trade above 24,900. Australia ( AS51 ) fell 0.23% to below 8,500 on Friday, marking its fourth straight session of losses and a two-week low. The Australian dollar stabilized above $0.648 on Friday, but remained under pressure as escalating Middle East tensions and the potential US involvement in the region weighed on risk sentiment. Traders now look ahead to the Philadelphia Fed's manufacturing survey and the Conference Board's leading economic indicators on Friday. U.S. stock futures fell on Friday amid rising geopolitical tensions: Dow -0.29% ; S&P 500 -0.26% ; Nasdaq -0.24% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Japan’s core inflation accelerates for the third straight month to 3.7% PBOC keeps lending rates steady during the June fixing, as expected China's rare earth magnet exports slump to five-year low in May Japan's exports dip, imports slump amid tariff pressures; machinery orders weaken BoJ stands pat on interest rate; Tokyo and Washington fail to reach trade deal
