Asian equity markets mostly declined on Friday, while oil prices continued to climb amid stalled negotiations to resolve the conflict with Iran. US stock futures dipped slightly following retreats from record levels on Wall Street. The Nikkei 225 in Tokyo rose 0.6%, driven by strong demand for tech shares, after reaching an all-time peak during Thursday’s session. Hong Kong’s Hang Seng index dropped 0.8%, the Shanghai Composite decreased 0.5%, South Korea’s Kospi fell 0.4%, and Australia’s S&P/ASX 200 declined 0.6%, according to reports. Taiwan’s Taiex surged 2.5%, boosted by a more than 4% gain in chip manufacturer TSMC, a major index component. Brent crude oil for June delivery increased 3.1% on Thursday, closing at $105.07 per barrel after peaking above $107. The July contract, favored by traders, ended at $99.35 following a high of $101. Early Friday, Brent crude rose 0.4% to $99.70 per barrel, and US crude advanced 0.6% to $96.62 per barrel. Welcome to our ongoing reporting on developments in the Middle East. President Donald Trump has directed American troops to destroy small Iranian vessels placing mines in the Strait of Hormuz, stating that US minesweeping operations are currently underway in the vital passage during the ongoing dispute. Trump shared this directive via social media on Thursday, after US special operations personnel seized a stateless tanker in the Indian Ocean allegedly transporting Iranian oil, escalating tensions with Tehran over the strait. The president also revealed that the ceasefire agreement between Israel and Lebanon will be extended for an additional three weeks. During remarks to journalists in the Oval Office with meeting attendees, Trump expressed hope that leaders from both nations would convene during this extended pause in fighting. Lebanon’s US ambassador, Nada Moawad, who requested the extension, expressed gratitude to Trump for facilitating the discussions, noting that his assistance could help restore Lebanon’s prominence. Additional updates include: Trump indicated that US forces have struck approximately 75% of intended targets in Iran, with no agreement reached yet due to internal unrest in the country. He told reporters he would refrain from deploying nuclear weapons against Iran as the confrontation persists without resolution. Trump asserted full US dominance over the Strait of Hormuz, a statement met with doubt given Iran’s capture of two cargo vessels and a US assessment suggesting mine clearance could require six months. The death of a Lebanese reporter in an Israeli airstrike has sparked global condemnation, with Lebanon’s prime minister labeling it a war crime. Amal Khalil, aged 43, perished in what associates called a prolonged assault by Israeli troops, where rescue teams were blocked from extracting her from debris and offering aid. Iran’s leader, Masoud Pezeshkian, rejected notions of divisions between hardliners and moderates in the nation, countering a claim by Trump about leadership splits. Iran’s foreign minister, Seyed Abbas Araghchi, affirmed that government bodies are operating cohesively and effectively. Italian authorities have dismissed the idea of substituting for Iran in the forthcoming World Cup, following a proposal from a US official. Sports minister Andrea Abodi deemed it inappropriate, and finance minister Giancarlo Giorgetti called it disgraceful. The US stated it has no issue with Iranian athletes competing but barred entry for those linked to Iran’s Revolutionary Guards. Pope Leo XIV called on the US and Iran to resume negotiations to halt the war, denounced executions, and advocated for a shift toward peaceful resolutions over aggression. It is uncertain whether another session of talks between the US and Iran will occur in Pakistan, as intermediaries there push for a settlement.
