The CSE All Share index settled flat at 22,567.63.

Industrial Asphalts (Ceylon) and Serendib Land PLC were the top percentage gainers on the CSE All Share index, rising 25% and 16.7%, respectively.

Trading volume on the CSE All Share index fell to 120.3 million shares from 126 million in the previous session, according to exchange data.

The equity market’s turnover fell to 2.07 billion Sri Lankan rupees ($6.51 million) from 2.83 billion rupees in the previous session.

Foreign investors were net sellers, offloading stocks worth 69.6 million rupees, while domestic investors were net buyers, purchasing shares worth 2.03 billion rupees.

Dubai’s main index gained 0.7%, snapping two sessions’ losses with top lender Emirates NBD Bank increasing 2%, while state-run utility firm Dubai Electricity and Water Authority advanced.

Emirates NBD said on Thursday its profit for the first quarter rose 3% to 6.4 billion dirhams ($1.74 billion).

The Dubai index logged a 2.2% decline, its first weekly loss after five positive sessions, while Abu Dhabi recorded a 1.3% weekly fall, according to data compiled by LSEG.

Abu Dhabi Commercial Bank recorded a 37% hike in first quarter net profit to 3.36 billion dirhams, while Q1 operating income jumped 18% year-on-year.

The banking sector’s performance reinforced confidence in the underlying strength of the domestic economy, encouraging selective buying and providing broader support to UAE equities, said George Pavel, general manager at Naga.com Middle East.

“However, sentiment could remain cautious amid persistent geopolitical risks in the region”.

Oil prices - a catalyst for the Gulf’s financial market - declined on Friday after a Pakistani government source said Iranian Foreign Minister Abbas Araqchi was expected to arrive in Islamabad on Friday night with a small team and peace talks with the U.S. were likely to take place.

Brent crude was down 0.9% at $104.16 a barrel by 1151 GMT.

The Nifty 50 fell 1.14% to 23,897.95, and the BSE Sensex shed 1.27% to 76,681.29.

The benchmark indexes lost 1.9% and 2.3% respectively this week, after two weeks of gains.

Iran displayed its grip over the Strait of Hormuz with a video of its commandos storming a cargo ship following the collapse of peace negotiations and U.S. President Donald Trump’s indefinite extension of the ceasefire.

Brent crude hovered around $107 a barrel.

“The rally in the last two weeks, driven by hopes of progress in U.S.-Iran talks, suggests some buying support, but sentiment will stay subdued and markets sluggish as long as crude remains above $100 a barrel,” said Aishvarya Dadheech, founder and chief investment officer at Fident Asset Management.

Higher crude prices hurt India by stoking inflation, swelling the import bill, and weighing on growth and corporate earnings, factors HSBC and J.P.Morgan cited in downgrading Indian equities this week.

Eleven of the 16 major sectors logged weekly losses. The broader small-caps were little-changed while mid-caps fell 0.9%.

The IT index slid 5.3% on the day and 10.3% for the week. HCLTech and Infosys logged weekly losses of 16.6% and 12.4% on their weak fiscal 2027 revenue forecasts, due to macro uncertainty and subdued client spending.

IT index constituents lost over $26 billion in market value this week.

“Muted earnings and cautious commentary from IT companies are reinforcing concerns that AI-driven deflationary pressure on revenues could be significant,” said Dadheech.

Buck­ing the broader weakness, consumer heavyweight Nestle India jumped 10.6% this week, after posting a sharp rise in quarterly profit on strong demand.

Index heavyweight Reliance Industries fell 2.7% this week ahead of its quarterly results due after market close on Friday.

The benchmark Nikkei 225 Index rose 0.47% to 59,416.49, while the broader Topix slid 0.04% to 3,714.85.

The Nikkei briefly broke through the psychologically key 60,000 mark for the first time on Thursday, more than recouping all its losses since the war broke out in Iran almost two months ago and spread around the region.

Lebanon and Israel extended their ceasefire for three weeks after a high-level meeting at the White House, U.S. President Donald Trump said on Thursday. Trump also said the U.S. would not use a nuclear weapon against Iran, following the extension of a ceasefire with Tehran earlier in the week.

Overnight, chipmaker Intel forecast second-quarter revenue that beat Wall Street expectations as demand surges for the company’s server processors used for artificial intelligence in data centres. Ibiden, a Japanese supplier to Intel, soared 12.7% in Tokyo, leading gains on the Nikkei.

“Today’s Japanese stock market is being driven upward by a sense of relief regarding the situation in the Middle East, along with continued expectations of earnings growth from the expanding AI sector,” said Wataru Akiyama, an equities strategist at Nomura Securities.

There were 103 advancers on the Nikkei index against 121 decliners. After Ibiden, the steepest gainers were tech sector suppliers NEC, gaining 6.8%, and Ajinomoto, which jumped 5.7%.

Canon was among the steepest decliners on the Nikkei, losing 6.6%. After the bell on Thursday, the company announced a downward revision to its earnings forecast.

The S&P/ASX 200 index dropped 0.2% to 8,775 by 0034 GMT. The benchmark was set to lose nearly 2% this week, if losses hold, and would be its worst week since March 16.

Lebanon and Israel extended their ceasefire for three weeks after a high-level meeting at the White House, although markets remain uncertain about a lasting peace deal.

Miners lost 0.6%. Lithium producer IGO slid 11.5%, after flagging lower annual production and higher cost forecasts for the Greenbushes lithium mine.

The project is 51% owned by its joint venture with Tianqi Lithium Corp, and is the highest-grade ore reserve of any hard-rock lithium mine globally.

Shares of no.3 miner Fortescue were up 0.1%, after posting a 5% jump in third-quarter iron ore shipments, although it narrowly missed estimates.

Gold stocks weighed further on the sub-index after falling 0.8%, as prices of the precious metal fell to a one-week low.

Shares of Evolution Mining dropped 1.3%, while Northern Star Resources was down 1.5%. Meanwhile, Suncorp soared 9.5%, after the insurer bagged reinsurance protection of up to A$2.4 billion ($1.71 billion) over five years, and projected a gross written premium growth of 3% for fiscal 2026.

Suncorp helped the financials sub-index remain steady, while gains were offset by top banks. Commonwealth Bank of Australia fell 0.4%, while Westpac was down 0.5%.

Energy stocks surged 0.5%, as producers gained on surging oil prices.

Oil and gas producer Santos surged 1.2%, while Woodside Energy gained 1.2%.

In New Zealand, the benchmark S&P/NZX 50 index was flat at 12,884.19.

The session started on a slightly weak note, with the benchmark index dipping early and touching the intra-day low of 166,380.71.

The real shift came in the second half of the trading session, where strong buying momentum kicked in. The reversal in trend came amid reports that the Iranian delegation led by Foreign Minister Abbas Araghchi is expected to arrive in Islamabad tonight.

At close, the benchmark index settled at 170,672.04, up by 1,498.67 points or 0.89%.

“Investors reacted to delays in US-Iran peace negotiations, with the US continuing to intensify pressure through its naval blockade. However, recovery was observed during the second half of trading session as investors reacted positively to news that Iran Foreign Minister Abbas Araghchi is expected to arrive in Pakistan’s capital on Friday night for a second round of peace talks with the US,” brokerage house Topline Securities said in its post-market report.

Top positive contribution to the index came from MEBL, UBL, OGDC, NBP and BOP, as they cumulatively contributed positive 765 points to the index; on the other hand, BAHL, FABL MCB, HMB and EFERT contributed negative 158 points to the index, it added.

In a key development, Pakistan completed the repayment of $3.45 billion to the United Arab Emirates (UAE), the central bank confirmed on Friday.

On Thursday, bears dominated the PSX as investors stayed cautious amid prevailing uncertainty and awaited clearer signals on geopolitical developments. The benchmark KSE-100 Index declined by 2,406 points or 1.40%, to close at 169,173.38 points.

Internationally, Asia shares struggled on Friday, and oil prices resumed their rise, as a shaky ceasefire in the Middle East war and stalled ​US-Iran peace talks gave investors little to cheer.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3% and was set to end ‌the week with a 0.8% gain, while Japan’s Nikkei added 0.45% and stocks in South Korea, China and Hong Kong fell.

Nasdaq futures and S&P 500 futures advanced 0.6% and 0.1%, respectively, after closing lower in the cash session overnight, while EUROSTOXX 50 futures were down 0.65% and FTSE futures fell 0.9%.

The mixed showing underscored the tense market mood as investors this week seesawed ​between hope for an imminent end to the war and fear that it might not come soon.

Iran on Thursday flaunted its tightened grip over the key Strait of Hormuz with a video of commandos in a speedboat storming a huge cargo ship, while ​U.S. President Donald Trump said he had ordered the Navy to “shoot and kill” Iranian boats laying mines in the strait, and step up demining activity.

Trump’s comments came ​just days after he said he would indefinitely extend what had been a two-week ceasefire with Iran to allow for further peace talks.

Meanwhile, the Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Friday. At close, the local currency settled at 278.85, a gain of Re0.01 against the greenback.

Volume on the all-share index decreased to 1,192.17 million from 1,321.51 million recorded in the previous close.

The value of shares rose to Rs39.68 billion from Rs30.84 billion in the previous session.

F. Nat.Equities was the volume leader with 128.29 million shares, followed by B.O.Punjab with 112.67 million shares, and Unity Foods Ltd with 98.16 million shares.

Shares of 480 companies were traded on Friday, of which 247 registered an increase, 196 recorded a fall, and 37 remained unchanged.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3% and was set to end ‌the week with a 0.8% gain, while Japan’s Nikkei added 0.45% and stocks in South Korea, China and Hong Kong fell.

Nasdaq futures and S&P 500 futures advanced 0.6% and 0.1%, respectively, after closing lower in the cash session overnight, while EUROSTOXX 50 futures were down 0.65% and FTSE futures fell 0.9%.

The mixed showing underscored the tense market mood as investors this week seesawed ​between hope for an imminent end to the war and fear that it might not come soon.

“The thing is, a ceasefire is a funny term ​to use in conjunction with a blockade and rolling tensions and animosities,” said Vishnu Varathan, Mizuho’s head of macro strategy ⁠for APAC.

Iran on Thursday flaunted its tightened grip over the key Strait of Hormuz with a video of commandos in a speedboat storming a huge cargo ship, while ​U.S. President Donald Trump said he had ordered the Navy to “shoot and kill” Iranian boats laying mines in the strait, and step up demining activity.

Trump’s comments came ​just days after he said he would indefinitely extend what had been a two-week ceasefire with Iran to allow for further peace talks.

“It’s not going to be a linear de-escalation of violence and oil prices and volatility around the entire supply shock,” said Varathan.

“(Investors) have just been looking for excuses to put on optimistic trades opportunistically. I don’t think anybody in the ​market truly believes that this will be over in a week or two.”

In oil markets, prices rose as the stand-off in the Strait of Hormuz persisted.

Brent crude futures ​jumped more than 1% to $106.21 a barrel, while U.S. crude gained 1% to $96.77 per barrel.

Markets, meanwhile, largely shrugged off news that Lebanon and Israel extended their ceasefire for three weeks after ‌a high-level ⁠meeting at the White House.

Yen on the cusp of 160

Moves in currencies were more muted on Friday, though the dollar was on track for a weekly gain owing to renewed safe-haven demand.

The euro last bought $1.1684 and was set to lose nearly 0.7% for the week, while sterling was little changed at $1.3469 and headed for a slight weekly decline.

A host of central banks, including the U.S. Federal Reserve, the European Central Bank and the Bank of England, are due to announce their policy ​decisions next week, with investors focusing on what ​policymakers say about the war’s impact ⁠on inflation and the economy.

“In view of the demand destruction implied by higher energy prices, there may be an understandable reluctance by many G10 policymakers to push ahead with rate hikes over the coming months,” said Jane Foley, head of FX ​strategy at Rabobank.

The Bank of Japan (BOJ) also meets next week, where expectations are for the central bank to keep rates on ​hold.

Ahead of that, currency traders ⁠were focused on the yen with the currency a whisker away from the key 160 per dollar level widely seen as a trigger for intervention.

The Japanese currency was last slightly weaker at 159.78 per dollar and was set to lose 0.7% for the week.

Japanese Finance Minister Satsuki Katayama renewed warnings of currency intervention on Friday, stressing “decisive action” in close ⁠coordination with ​the United States.

“Lower market liquidity during Golden Week, which comes directly after the BOJ meeting, may ​provide an opportunity for FX intervention and a knee-jerk appreciation in the yen within the 150–160 range,” said Carl Ang, fixed income research analyst at MFS Investment Management.

Markets will be closed on ​a number of days over the annual Golden Week holiday, which lasts into early May.

GIFT Nifty futures were trading at 24,237 points, as of 7:41 a.m. IST, indicating that the benchmark Nifty 50 would open near Thursday’s close of 24,173.05.

Both the ​benchmarks dropped about 1.7% each in the last two sessions as oil ​prices rose above $100 a barrel.

Brent crude hovered around $106 after Iran displayed its ⁠grip over the Strait of Hormuz with a video of its commandos storming ​a cargo ship following the collapse of peace negotiations and U.S. President Donald Trump’s ​indefinite extension of the ceasefire.

Reports of Iran’s air defenses engaging targets over Tehran, and of a struggle between Iran moderates and hardliners, also sent crude prices spiking.

Other Asian markets were muted, while ​Wall Street equities closed lower overnight.

Among stocks, Infosys will be in focus. Its ​U.S.-listed stocks fell 4% overnight after the IT company forecast annual revenue growth below market expectations due ‌to ⁠macroeconomic uncertainty and tepid client spending.

The outlook overshadowed better-than-expected fourth-quarter results.

“Market sentiment remains fragile and highly news-driven, with near-term direction likely to be influenced by geopolitical developments in the Middle East, movement in crude oil prices, and corporate earnings,” said Ponmudi ​R, chief executive at ​Enrich Money.

Foreign institutional ⁠investors (FII) remained net sellers of Indian stocks for the fourth session on Thursday, with outflows worth 32.55 billion Indian rupees. ​Domestic institutional investors’ (DII) inflows stood at 9.41 billion rupees ($100.00 million).

Iran tightened control over the Strait of Hormuz as Tehran released footage of its commandos storming a huge cargo ship that they claimed to have seized on Wednesday, while demanding the US lift its naval blockade on Iranian ports.

Investors keen to look past war-related risks have shown strong resilience in recent days, but some fatigue has set in, leading to brief episodes of risk aversion, as they await more clarity on how and when the conflict may ultimately be resolved.

With oil prices over USD100 a barrel, the risk of an inflation flare-up also remains.

“Our advice to investors would be not to read the headlines,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

“While there are short-term, headline-driven sell-offs time and again, when cooler heads prevail and the market returns to looking at fundamentals, it sees what we see, which is a really strong economy and really strong earnings.”

At 11:45 a.m. ET, the Dow Jones Industrial Average fell 99.59 points, or 0.20 percent, to 49,388.60 and the Nasdaq Composite lost 52.77 points, or 0.21 percent, to 24,604.80.

The S&P 500 lost 2.17 points, or 0.03 percent, after hitting an all-time high.

Data on Thursday showed that the number of Americans filing claims for unemployment benefits increased only marginally last week, but risks from war-driven higher prices still threaten the economy.

S&P Global’s flash US Composite PMI Output Index, which tracks the manufacturing and services sectors, increased this month after almost stagnating in March, but the improvement was largely due to what it said was “stock building in the face of concerns over supply availability and price hikes.”

“We thought earnings would be the anchor for markets this year, and I think thus far, the verdict is that it’s the right anchor,” Samana said.

The earnings season has been largely strong so far, but because the results reflect only one month of disruption from the Middle East conflict, some are questioning how dependable they are as a gauge of what lies ahead.

“The earnings themselves don’t reflect the impact of the energy supply shock,” said Kiran Ganesh, multi-asset strategist at UBS Global Wealth Management.

IBM slumped 8 percent after revenue growth slowed in the first quarter on weakness in its software business.

The results revived concerns that the software sector’s traditional business models could be upended by new AI tools.

The S&P 500 information technology sector fell 0.3 percent. Weakness in information technology stocks also sent the Dow and the Nasdaq lower.

China’s blue-chip CSI300 Index and the Shanghai Composite Index both ended 0.3 percent lower. Hong Kong benchmark Hang Seng was down 1 percent.

Risk sentiment weakened after Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway a day after US President Donald Trump announced he was indefinitely calling off attacks, with no sign of peace talks restarting.

Non-ferrous metals shares lost 3.9 percent, leading declines onshore, while energy stocks rose 2.9 percent to a two-week high. The coal index was up 2.2 percent.

Semiconductor stocks fell 1.6 percent, after Reuters reported Micron Technology, the largest US memory chipmaker, pushed the US Congress to crack down on chip tool sales to Chinese rivals.

Consumer names outperformed, with onshore liquor shares up 2.1 percent.

“Although traditional consumer segments have not performed well, structural opportunities do exist,” said Wenli Zheng, a portfolio manager at T. Rowe Price.

“These include companies exposed to faster-growing segments such as travel and entertainment and share gainers with innovative business models such as discount stores and fresh drinks,” Zheng said.

In Hong Kong, tech majors fell 2 percent and healthcare dropped 3.4 percent.

Shares of Huaqin, a Chinese smart device maker and original design manufacturer, climbed 17 percent in the Hong Kong market debut on Thursday after the company raised HKD4.6 billion (USD581 million) in a share offering.

Iran tightened control over the Strait of Hormuz as Tehran released footage of its commandos storming a huge cargo ship that they claimed to have seized on Wednesday, while demanding the U.S. lift its naval blockade on Iranian ports.

Investors keen to look past war-related risks have shown strong resilience in recent days, but some fatigue has set in, leading to brief episodes of risk aversion, as they await more clarity on how and when the conflict may ultimately be resolved.

With oil prices over $100 a barrel, the risk of an inflation flare-up also remains.

“Our advice to investors would be not to read the headlines,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

“While there are short-term, headline-driven sell-offs time and again, when cooler heads prevail and the market returns to looking at fundamentals, it sees what we see, which is a really strong economy and really strong earnings.”

At 11:45 a.m. ET, the Dow Jones Industrial Average fell 99.59 points, or 0.20%, to 49,388.60 and the Nasdaq Composite lost 52.77 points, or 0.21%, to 24,604.80.

The S&P 500 lost 2.17 points, or 0.03%, after hitting an all-time high.

Data on Thursday showed that the number of Americans filing claims for unemployment benefits increased only marginally last week, but risks from war-driven higher prices still threaten the economy.

S&P Global’s flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased this month after almost stagnating in March, but the improvement was largely due to what it said was “stock building in the face of concerns over supply availability and price hikes.”

Packed earnings calendar in focus

“We thought earnings would be the anchor for markets this year, and I think thus far, the verdict is that it’s the right anchor,” Samana said.

The earnings season has been largely strong so far, but because the results reflect only one month of disruption from the Middle East conflict, some are questioning how dependable they are as a gauge of what lies ahead.

“The earnings themselves don’t reflect the impact of the energy supply shock,” said Kiran Ganesh, multi-asset strategist at UBS Global Wealth Management.

IBM slumped 8% after revenue growth slowed in the first quarter on weakness in its software business.

The results revived concerns that the software sector’s traditional business models could be upended by new AI tools.

The S&P 500 information technology sector fell 0.3%. Weakness in information technology stocks also sent the Dow and the Nasdaq lower.

Tesla shares fell 2.6% after the company raised its spending plan to more than $25 billion for the year.

Lockheed Martin dropped 4.8% after reporting a lower first-quarter profit.

Car-rental company Avis Budget’s shares slumped 46.3% and were on course for their steepest two-day drop ever, after an eye-watering rally that was reminiscent of the “meme-stock” craze.

On the flip side, Texas Instruments surged 18.4% after forecasting second-quarter revenue and profit above Wall Street expectations.

Advancing issues outnumbered decliners by a 1.05-to-1 ratio on the NYSE and by a 1.5-to-1 ratio on the Nasdaq.

The S&P 500 posted 36 new 52-week highs and six new lows, while the Nasdaq Composite recorded 111 new highs and 68 new lows.

Iran seized two ships in the strait on Wednesday, tightening its control over the key shipping route a day after U.S. President Donald Trump indefinitely extended a ceasefire but maintained a blockade on Iranian ports.

Top Iranian negotiator Mohammad Baqer Qalibaf said a full ceasefire would only make sense if the blockade was lifted.

With the strait effectively shut, pressure on global oil supplies pushed Brent crude back above $100 a barrel.

Saudi Arabia’s benchmark index fell 1.2%, extending its losing streak to six sessions, weighed down by a 2.2% slide in Al Rajhi Bank and a 1.8% drop in the kingdom’s biggest lender by assets, Saudi National Bank.

SABIC Agri-Nutrients Co dropped 5.1% after reporting lower quarterly sales, despite posting higher profit.

Strait of Hormuz disruptions and stalled diplomacy are keeping investors defensive, with only limited relief from the ceasefire extension, said Daniel Takieddine, co-founder and CEO of Sky Links Capital Group.

In Qatar, the index eased 0.1%, with the Gulf’s biggest lender, Qatar National Bank , down 1.3%.

Abu Dhabi’s index closed 0.4% lower, dragged down by a 2.1% fall in First Abu Dhabi Bank , even though the UAE’s biggest lender beat forecasts with a smaller-than-expected 2% fall in first-quarter net profit.

Dubai’s main share index erased early gains to close unchanged. Emirates NBD Bank slipped 0.1% after the emirate’s largest lender by assets reported a 3% rise in first-quarter profit. Budget airline Air Arabia gained 1.2%.

Outside the Gulf, Egypt’s blue-chip index bucked the trend to close 0.8% higher, with Commercial International Bank rising 1.3%.

The CSE All Share index settled 0.32% lower at 22,566.58.

Royal Palms Beach Hotels PLC and Softlogic Capital PLC were the top percentage losers on the CSE All Share index, falling 3.1% and 2.4%, respectively.

Trading volume on the CSE All Share index fell to 126 million shares from 155.5 million in the previous session.

The equity market’s turnover fell to 2.83 billion Sri Lankan rupees ($8.92 million) from 5.25 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 60 million rupees, while domestic investors were net sellers, offloading shares worth 2.77 billion rupees, the data showed.

The Nifty 50 lost 0.84% to 24,173.05, while the BSE Sensex shed 1.09% to 77,664.

Brent crude rose for a fourth straight session to trade above $103 a barrel as uncertainty over Middle East peace talks lingered. Other Asian markets fell 0.4%.

HSBC downgraded Indian equities to “underweight” from “neutral” on Thursday, citing the impact of high energy prices on India. Foreign investors sold a net $4.4 billion worth of Indian shares in April and $18.6 billion so far in 2026.

“Despite lingering Mideast tensions, April’s rebound after March’s slump suggests domestic investors are taking comfort in valuations and betting on an early resolution, even as foreign investors stay wary of high oil prices and rupee weakness,” said G. Chokkalingam, founder and head of research at Equinomics Research.

Including the session’s losses, the Nifty and Sensex are up about 8% each in April, partially recovering from the more than 11% drop in March.

On the day, 13 of the 16 major sectors fell. Small-caps and mid-caps slid 0.7% and 0.4%, respectively.

Auto stocks lost 2.4%, while heavyweight financials fell 1.4%, led by 1.4% drop in ICICI Bank and 1.9% loss in HDFC Bank.

Infosys, the country’s second-largest IT company, closed 2.2% lower ahead of its results. The IT index dropped 1.2%.

Bucking trend, pharma stocks gained 2.4%, led by a 5.7% jump in Cipla after it received the U.S. drug regulator’s approval for a generic version of a widely used respiratory drug.

• South Korean shares crossed the 6,500 level for the first time on Thursday, as SK Hynix’s record earnings bolstered investor sentiment amid uncertainties surrounding the US-Iran peace talks.
• The won strengthened, while the benchmark bond yield rose.
• The benchmark KOSPI was up 111.63 points, or 1.78%, at 6,532.24, as of 0116 GMT, extending its year-to-date gain to 55%.
• SK Hynix posted a more than five-fold jump in first-quarter operating profit to a record high, as the artificial intelligence boom drove strong demand for both advanced and conventional memory chip products. Its shares gained 0.82%.
• Among other index heavyweights, chipmaker Samsung Electronics rose 5.29%. Battery maker LG Energy Solution slid 3.20%.
• Hyundai Motor and sister automaker Kia Corp were up 0.55% and up 1.19%, respectively. Steelmaker POSCO Holdings shed 0.60%, while drugmaker Samsung BioLogics fell 0.77%.
• South Korea’s economy beat expectations in the first quarter of 2026 to record the fastest growth since mid-2020, as booming semiconductor demand offset the drag of weak public spending, central bank data showed.
• Of the total 905 traded issues, 304 shares advanced, while 542 declined.
• Foreigners were net buyers of shares worth 502.4 billion won.
• The won was quoted at 1,478.3 per dollar on the onshore settlement platform, 0.14% higher than its previous close at 1,480.3.
• The won has weakened 2.6% against the dollar so far this year.
• In money and debt markets, June futures on three-year treasury bonds lost 0.23 point to 104.04.
• The most liquid three-year Korean treasury bond yield rose by 7.6 basis points to 3.443%, while the benchmark 10-year yield rose by 7.5 basis points to

3.775%.

The S&P/ASX 200 index fell 0.3% to 8,816.30 by 0031 GMT, its lowest level since April 8.

The benchmark dropped 1.2% on Wednesday.

Top weighted financials lagged 0.9%, on track for a ninth-straight session of losses. The downbeat mood towards the sector comes as two of the four largest lenders - Westpac and National Australia Bank had flagged operational impacts this month due to war-driven market volatility.

No.1 valued lender Commonwealth Bank of Australia shed 1%, while ANZ lost 1.3%. Westpac and NAB dropped 1.1% and 0.8%, respectively.

Overall losses were limited by heavyweight miners BHP and Rio Tinto, which gained 0.6% and 0.8%, respectively. Both producers reported higher quarterly iron ore output earlier this week.

Rio and BHP helped the mining sub-index rise 0.4%, although gains were limited by gold stocks.

Energy stocks rose 2.2% and broke a six-day losing streak. Oil prices settled up by more than $3 after a surprise gasoline and distillate stock draw in the U.S. and reports of gunfire attacks in the Strait of Hormuz.

Shares of Santos surged as much as 4% after the major oil and gas producer reported sequentially higher quarterly production and sales revenue. Smaller producer Karoon Energy gained 4.4%.

Meanwhile, top fuel retailer Ampol surged as much as 3.6% to a one-week high after submitting a final remedy offer to Australia’s competition regulator, as it looks to secure approval to acquire EG Australia for A$1.1 billion($787.60 million).

New Zealand’s benchmark S&P/NZX 50 index fell 0.4% to 12,900.

• China’s blue-chip CSI300 Index and the Shanghai Composite Index lost 0.8% each. Hong Kong benchmark Hang Seng was down 1.1%.
• Risk sentiment weakened after Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway a day after U.S. President Donald Trump announced he was indefinitely calling off attacks, with no sign of peace talks restarting.
• Non-ferrous metals shares lost 4.1%, leading declines onshore, while energy stocks rose 2.4% to a two-week high. The coal index was up 1.9%.
• Semiconductor stocks fell 2.5%, after Reuters reported Micron Technology, the largest U.S. memory chipmaker, pushed the U.S. Congress to crack down on chip tool sales to Chinese rivals.
• Consumer names outperformed, with onshore liquor shares up 2.1%.
• “Although traditional consumer segments have not performed well, structural opportunities do exist,” said Wenli Zheng, a portfolio manager at T. Rowe Price.
• “These include companies exposed to faster-growing segments such as travel and entertainment and share gainers with innovative business models such as discount stores and fresh drinks,” Zheng said.
• In Hong Kong, tech majors fell 2.3% and healthcare dropped 3.4%.
• Shares of Huaqin, a Chinese smart device maker and original design manufacturer, climbed 17% in the Hong Kong market debut on Thursday after the company raised HK$4.6 billion ($581 million) in a share offering.

The KSE-100 came under selling pressure at the start of trading, which pushed the benchmark index into a steady downward trajectory.

By late morning into mid-day, the decline became more gradual but persistent, and by the early afternoon, the index dropped sharply toward the intra-day low of 168,416.02.

The market attempted a modest rebound in the final hours of the trading session.

At close, the benchmark index settled at 169,173.37, down by 2,405.93 points or 1.40%.

“Bears returned to centre stage as tensions flared around the Strait of Hormuz, where reports of blockades and vessel seizures rattled global sentiment. Meanwhile, Islamabad continues to await Iranian and American officials for expected peace talks, keeping uncertainty elevated,” brokerage house Topline Securities said in its post-market report.

Key index heavyweights, including FFC, UBL, MEBL, PPL, and BAFL, remained under sustained pressure, collectively shaving off 942 points from the index, it said.

On Wednesday, investor sentiment remained bearish at the PSX, as uncertainty surrounding ongoing US-Iran negotiations weighed on market confidence amid heightened geopolitical tensions and lack of clarity over a potential breakthrough. The benchmark KSE-100 Index declined by 1,576.48 points, or 0.91%, to close at 171,579.31.

Internationally, Asian shares tracked Wall Street higher on Thursday, led by record highs in Japan, South Korea ‌and Taiwan, as investors shrugged off higher oil prices from more shipping woes in the Gulf and focused on strong corporate earnings.

Overnight, the S&P 500 climbed 1%, and the Nasdaq jumped 1.6% to close at new record highs, helped by a strong start to earnings ​season that has eased concerns about the health of the US consumer despite rising energy prices from ​the Iran war.

That was despite oil prices gaining for a fourth straight day. Iran on ⁠Wednesday captured two container ships seeking to exit the Gulf via the Strait of Hormuz, tightening its grip on the ​crucial waterway, as a fragile ceasefire hangs in the balance for now.

MSCI’s broadest index of Asia-Pacific shares outside Japan rallied 1% to a record high as tech heavyweights surged in the region. Markets in Japan, South Korea and Taiwan vaulted to records for a second day, with the Nikkei topping the ​60,000 mark.

China’s blue chips rose 0.3%, and Hong Kong’s Hang Seng index slipped 0.3%.

Meanwhile, the Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Thursday. At close, the local currency settled at 278.86, a gain of Re0.01, against the greenback.

Volume on the all-share index rose to 1,321.51 million from 1,054.06 million recorded in the previous close.

The value of shares decreased to Rs30.84 billion from Rs37.29 billion in the previous session.

F. Nat.Equities was the volume leader with 286.82 million shares, followed by Hascol Petrol with 77.78 million shares, and Kohinoor Spining with 69.44 million shares.

Shares of 483 companies were traded on Thursday, of which 164 registered an increase, 286 recorded a fall, and 33 remained unchanged.

GIFT Nifty futures were trading at 24,158 points, as of 8:02 a.m. IST, indicating that the ​benchmark Nifty 50 would open below Wednesday’s close ​of 24,378.1.

Brent Crude prices rose for the fourth consecutive ⁠session to $102 per barrel amid uncertainty over peace talks ​in the Middle East.

Global brokerage firm HSBC downgraded Indian equities ​to “underweight” from “neutral”, citing the country’s reliance on imported energy and potential knock-on effects on inflation and domestic demand.

India imports a bulk of its ​crude and gas requirements, and a prolonged spike in ​prices could worsen the growth and inflation outlook for the economy.

Foreign investors ‌sold ⁠Indian shares worth 20.78 billion rupees ($221.56 million) on Wednesday, as per provisional data. This was their second consecutive session of selling, after earlier turning buyers for four sessions.

Meanwhile, investors will ​react to ​earnings from benchmark ⁠Nifty 50 constituents SBI Life Insurance and apparel retailer Trent.

SBI Life Insurance’s net profit declined ​marginally during January-March, due to a one-third ​rise in ⁠operating expenses.

Trent posted a 26% jump in quarterly profit, as demand ticked up following last year’s consumption tax cuts, with ⁠its ​board also approving a maiden bonus ​share issue and a fund raise of up to 25 billion rupees.

The index, however, shed early gains in choppy trade and was little changed by 0127 GMT, after falling as much as 0.7% earlier ​in the session. It touched a record high of 60,013.98 at its ​peak.

The broader Topix was also flat at 3,744.93.

Trump said the ⁠indefinite extension of the ceasefire followed a request by Pakistani mediators. However, the ​U.S. Navy’s blockade of Iranian ports remained in effect, and Iran seized two ​ships in the Strait of Hormuz.

“There are still uncertainties surrounding the Middle East war. The Strait of Hormuz is not completely open and the oil prices remain high,” said Hiroyuki ​Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management.

“Investors have bought the ​shares on optimism for the war’s end until now. But for the index to rise ‌further, they ⁠need more positive cues that support the fundamentals that could also lift domestic demand-related stocks.”

The Nikkei has recouped all losses since the start of the U.S.-Iran war in late February, though gains have been driven by a narrow ​group of artificial intelligence‑related ​stocks, including SoftBank ⁠Group and Advantest.

The so-called NT ratio, the Nikkei 225 divided by the broader Topix, hit a record high of ​15.74 on Wednesday, underscoring how the rally has outpaced the ​wider market.

Chip-related ⁠shares climbed on Thursday, with Advantest and Tokyo Electron up 2.65% and 1.76%, respectively.

Technology investor SoftBank Group jumped 6.4%.

Fibre optic cable maker Fujikura gained 0.65%.

Uniqlo-brand owner Fast ⁠Retailing fell 1.8% to weigh on the Nikkei the ​most.

Of the 1,600 shares on the Tokyo Stock Exchange’s prime market, 17% rose and 78% fell, and ​3% traded flat.

Overnight, the S&P 500 climbed 1% and the Nasdaq jumped 1.6% to close at new record highs, helped by a strong start to earnings ​season that has eased concerns about the health of the U.S. consumer despite rising energy prices from ​the Iran war.

That was despite oil prices gaining for a fourth straight day. Iran on ⁠Wednesday captured two container ships seeking to exit the Gulf via the Strait of Hormuz, tightening its grip on the ​crucial waterway, as a fragile ceasefire hangs in the balance for now.

Brent crude futures rose 0.5% to $102.45 a barrel, ​having jumped 3.5% overnight to cross back above $100.

MSCI’s broadest index of Asia-Pacific shares outside Japan rallied 1% to a record high as tech heavyweights surged in the region. Markets in Japan, South Korea and Taiwan vaulted to records for a second day, with the Nikkei topping the ​60,000 mark.

China’s blue chips rose 0.3% and Hong Kong’s Hang Seng index slipped 0.3%

“Markets have been remarkably effective at ​looking through risks – and may continue to be. But the list of risks is growing as resolutions remain elusive,” said Laura ‌Cooper, global ⁠investment strategist at asset manager Nuveen.

“The dissonance cannot hold indefinitely … At some point, the weight of what is being ignored could become the only one that matters.”

Wall Street futures slipped in Asia after the earnings-driven rally, with the Nasdaq futures off 0.2% and S&P 500 futures down 0.3%.

Shares of GE Vernova surged 13.75% after the power equipment maker raised its ​annual revenue forecast on the ​AI boom, and Boeing ⁠advanced over 5% after a smaller-than-expected quarterly loss.

Electric automaker Tesla a surprise positive free cash flow in the first quarter, but its projection of sharply higher spending plans on AI and ​robotics drew scepticism from investors, with its shares last down 2% after the bell.

Treasuries ​were also mostly ⁠steady despite the jump in oil prices.

The two-year U.S. Treasury yield held at 3.8064%, after edging up 1 basis point (bp) on Wednesday. The 10-year yield inched 1 bp higher at 4.3094%, after finishing little changed overnight.

Currencies were mostly calm, with the ⁠dollar ​holding onto small gains from overnight. The euro was steady at $1.1709, just ​above a 10-day low of $1.1691, having lost 0.3% overnight.

“It is questionable whether financial markets are correctly pricing the reality that supply constraints will remain ​an issue for some time,” said Skye Masters, head of markets research at the National Australia Bank.

The blue-chip CSI300 index added 0.7 percent at market close after hitting its strongest level since January 14.

The Shanghai Composite index closed 0.5 percent higher at 4,106.26, its third straight session of gains.

Tech sectors led gains onshore, with the AI industry index adding 3.3 percent and chip sector index gaining 2.9 percent. The CSI 5G Communications Index climbed 5.1 percent.

ChiNext Index, a Nasdaq-style second board for startups, added 1.7 percent to the highest level since 2015.

US President Donald Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks. Although it was not clear on Wednesday whether Iran or Israel would agree, investors largely took heart from the development.

“Middle East geopolitical risks are gradually easing, and the market is becoming increasingly desensitised to geopolitical conflicts,” analysts at Nanhua Futures wrote in a note.

“Markets are now building an upward momentum, with earnings improvements likely becoming the core driver for the next phase.”

“The improvement in liquidity conditions and rising investor risk appetite are working in tandem, driving stock indices higher,” they added.

In Hong Kong, the Hang Seng Index was down 1.2 percent at 26,163.24. The Hang Seng Tech Index was down 1.9 percent to a one-week low.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.5 percent, while Japan’s Nikkei index was up 0.4 percent.

The Nikkei closed up 0.4 percent at 59,585.86 in a choppy session after falling as much as 0.6 percent. The broader Topix slipped 0.7 percent to 3,744.99.

Tech investment conglomerate SoftBank Group rose 8.5 percent and chip-testing equipment maker Advantest advancing 2.6 percent. They contributed about 353 and 169 points to the Nikkei index, respectively.

“AI and a very small number of stocks that have recently been driving the market are the only areas in positive territory, while declines stand out across the broader market,” said Kazunori Tatebe, chief strategist at Daiwa Asset Management.

Iran seized two ships in the Strait of Hormuz, tightening its grip on the strategic waterway, while US President Donald Trump continued the US Navy’s blockade of the Iranian coast.

The pan-European STOXX 600 index ended 0.4 percent lower at 613.88 points. Major regional bourses were also lower, with Germany’s DAX shedding 0.3 percent and France’s CAC 40 down 1 percent.

Germany’s economy ministry halved its 2026 growth forecast, while raising its inflation projections. Geopolitical uncertainty in the Middle East continued to weigh on markets, with euro zone bond yields edging up as oil hit USD100, as Trump’s indefinite ceasefire announcement appeared unilateral, with neither Iran nor Israel signalling whether they would honour the agreement.

“We know that the rising energy prices are weighing on demand and on economic growth projections. So unless we do see concrete progress in peace negotiations, I believe that the moves up and down do not necessarily reflect a high conviction direction,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

The energy sector jumped 2.3 percent, continuing to benefit from higher oil prices. Materials and technology inched up 1.7 percent and 0.6 percent, respectively. ASM International shares jumped 7.1 percent with the computer chip equipment maker forecasting second-quarter revenue guidance above market expectations.

Other chip and technology equipment makers also rallied with German chipmakers and suppliers Aixtron and Infineon rising over 3 percent each, while ASML and BESI gained 1 percent and 1.9 percent, respectively.

“It will be interesting to see if tech can withhold the pressure in earnings season and whether investors start to question once again whether companies are over-investing in AI,” said Daniela Hathorn, senior market analyst at Capital.com.

“For now, it’s still a key driver in markets.” Travel and leisure stocks declined 2.1 percent as high energy costs and geopolitical uncertainty weighed.

Trump said the indefinite extension of the ceasefire followed a request by Pakistani mediators. However, the US Navy’s blockade of Iranian ports remained in effect, and Iran seized two ships in the Strait of Hormuz.

The opening of the waterway, responsible for about 20 percent of global oil supply, remains a major unknown for investors and has been one of the sticking points in the negotiations.

The bullish sentiment despite the uncertainty points to a market desperate to cling to good news, and reflects investor belief that despite setbacks, the war will be settled at the negotiating table instead of the battlefield.

At 11:25 a.m. ET, the Dow Jones Industrial Average rose 381.18 points, or 0.78 percent, to 49,530.56, the S&P 500 gained 61.56 points, or 0.87 percent, to 7,125.15 and the Nasdaq Composite gained 313.74 points, or 1.29 percent, to 24,573.70.

“It’s possible that we see a continuation of negative headlines, ultimatums and deadlines for negotiations, but that doesn’t mean that stocks will react meaningfully to each one, since markets already priced in the worst of the conflict during the lows made back in March,” said Rick Gardner, chief investment officer, RGA Investments.

However, risks of an inflation flare-up remain, with oil prices near the USD100-a-barrel mark.

“Equity markets appear to be pricing in a rapid resolution — and conditions on the ground suggest that may be premature,” said Larry Adam, chief investment officer at Raymond James.

Information technology stocks added 1.6 percent and were the biggest boost to the S&P 500. Energy stocks also rose 0.8 percent.

The Philadelphia SE Semiconductor Index hit a fresh peak and was on track for its 16th straight day of gains — its longest streak ever.

Micron Technology shares jumped 5.6 percent, while Seagate rose 2.5 percent after Barclays upgraded the data storage firm’s rating to “overweight”.

A strong run of earnings so far has reassured Wall Street about the health of the US consumer, the growth engine of the economy.

The MSCI gauge of EM Asia equities fell 0.4 percent, sliding from the February 27 highs the index had touched earlier this week. A broader gauge of global EM stocks also inched lower from its late-February peak.

Bank Indonesia stood pat on its rates, as expected, to anchor the rupiah’s stability amid the war in Iran.

The currency has been under sustained pressure since the Middle East war broke out in late February, losing over 2 percent to become one of the worst-hit units in the region.

The rupiah trimmed some of its losses on the day after the decision, trading at around 17,175 per US dollar. It had weakened to 17,185 a dollar earlier in the session, within striking distance of its all-time low of 17,193.

The central bank also said the rupiah would be stable going forward, with the possibility of it appreciating, aided by the central bank’s policy.

Stocks in the Southeast Asian nation pared some of their losses too, shedding 0.2 percent.

South Korea’s high-flying KOSPI index hit a record high earlier in the day, then edged lower, only to close at a record peak, driven by gains in battery makers.

Equities in Singapore, Malaysia, the Philippines, and Indonesia slipped about half a percentage point each. Thailand’s shares shed 0.2 percent.

US President Donald Trump said he would indefinitely extend the Iran ceasefire but announcement provided no clarity on whether Iran or US ally Israel would agree.

Trump said on Tuesday he would extend the ceasefire to allow further peace talks aimed at ending a war that has killed thousands and rattled the global economy. The US Navy, however, maintained its blockade of Iran’s ports and coastline, a move Tehran has described as an act of war.

Shipping through the Strait of Hormuz, which normally handles around 20 percent of global oil and liquefied natural gas supplies, remained largely at a standstill.

Trump said late Tuesday he had pushed back the end of a two-week truce with Tehran following a request by Pakistani mediators and to give Iran’s “fractured” leadership time to formulate a proposal.

But oil prices pushed higher Wednesday after Iran’s Revolutionary Guards said their naval forces had seized two container ships seeking to cross the blockaded Strait of Hormuz.

About 35 minutes into trading, the Dow Jones Industrial Average was up 0.8 percent at 49,552.28.

READ MORE: Wall Street’s rally fades as ME angst overshadows earnings optimism

The broad-based S&P 500 gained 0.7 percent to 7,116.50, while the tech-rich Nasdaq Composite Index advanced 0.9 percent to 24,473.07.

“Markets are exuberant about the idea of a ceasefire continuing,” said Steve Sosnick of Interactive Brokers, who views the earnings thus far as generally good, but not necessarily meriting the market’s outsized positive reaction.

“Right now, we’re not in a normal environment,” Sosnick said. “Anything that could plausibly be considered good news, or even okay news, will be taken as a positive.”

Among companies reporting results, Boeing gained 2.2 percent, GE Vernova surged 11.4 percent and United Airlines fell 3.6 percent.

At 10:41 a.m. ET, the Toronto Stock Exchange’s S&P/TSX Composite Index was up 0.5% at 33,975.86 points.

Iran’s semi-official Tasnim news agency said the Revolutionary Guards had seized two vessels for maritime violations and escorted them to Iranian shores. It was the first time Iran has seized ships since the war began at the end of February.

Energy shares rose 0.3%, mirroring higher oil prices amid supply concerns.

READ MORE: TSX hits fresh high as tech, financial stocks strengthen

There’s tentative optimism among investors, but the oil market is trading as though the ceasefire is fragile, said Brian Madden, chief investment officer at First Avenue Investment Counsel.

The overall market will likely focus on corporate earnings in the next couple of weeks as the initial shock of the war is over, he said.

Ten of 11 TSX sectors were trading in the green on Wednesday.

Shares of miners led gains on the index; Silvercorp Metals, AbraSilver Resources and Ivanhoe Mines rose between 5.8% and 5.9%, tracking higher gold and silver prices.

Among other stocks, Rogers Communications rose 10.4% after the telecom company posted first-quarter revenue slightly above estimates, as it benefited from expanding its media and sports portfolio.

Metro fell 2.9% after the grocery retailer said the Laval labor dispute will have an impact on the company’s third-quarter results.

The Nifty 50 fell 0.81% to 24,378.10, and the BSE Sensex shed 0.95% to 78,516.49, after both indexes gained 1.6% over the previous three sessions.

Information technology, the benchmarks’ third-heaviest sector, slumped 3.9% after HCLTech reported subdued earnings and forecast weaker-than-expected growth for fiscal 2027.

HCLTech fell 10.8%, its worst session in over 10 years, dragging peers Infosys and Tata Consultancy Services down 3.4% and 2.8%, respectively.

READ MORE: Indian shares end at 6-week high as banks gain, Iran peace hopes aid sentiment

“Weaker commentary on demand and near-term growth visibility by HCLTech triggered concerns around IT sector’s earnings trajectory, leading to a sharp decline in the sector and dragging markets,” said Shashwat Singh, fundamental analyst at Bajaj Broking.

Tech Mahindra, which fell as much as 6.4% intraday, recouped some losses to end 2.6% lower after its own March quarter revenue topped expectations.

Overall, nine of the 16 major sectors rose. The small-caps and mid-caps gained 1.1% and 0.2%, respectively.

ABB India jumped 4.6% after parent ABB’s March quarter earnings showed a 26% increase in India orders.

Heavyweight financials fell 0.8% after rising about 2% in the last three sessions.

U.S. President Donald Trump said on Tuesday he would indefinitely extend the ceasefire with Iran to allow for further peace talks, although it was not clear on Wednesday if Iran or Israel, the U.S. ally in the war, would agree.

Trump also said he would continue the U.S. Navy’s blockade of Iran’s trade by sea.

Other Asian markets lost 0.6%, while Brent crude traded below $100 a barrel.

“With U.S. and Iran engaging in war of words ahead of the peace talks, investors are playing safe by cutting their equity exposure,” said Ankur Punj, managing director and business head at Equirus Wealth.