Iran-Israel War Escalates: Cluster Missiles, Nuclear Fears, and Strait of Hormuz Crisis 
U.S. Stock Futures Steady as Wall Street Retreats on Oil Volatility and Fed Rate Outlook 
Israel Defies Trump's Warning, Launches New Strikes on Iran Amid Growing Global Energy Crisis 
BOJ Holds Interest Rates Steady Amid Middle East Uncertainty 
Global Central Banks Hold Rates Amid Iran War-Driven Energy Price Surge 
Iran-Israel War Escalates: Energy Infrastructure Attacks Shake Global Oil Markets 
S&P 500 Rebounds After Netanyahu's Statements on Iran's Military Setbacks 
S&P Affirms Kuwait's AA- Credit Rating Amid Strait of Hormuz Disruption 
Japan's Parliament Backs Dovish BOJ Board Members, Raising Questions on Rate Hike Path 
Japan's Major Companies Lead Strong Wage Growth for Fourth Consecutive Year 
Asian Currencies Rebound as Dollar Weakens, BOJ Holds Rates 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
Malaysia Semiconductor Industry Eyes Helium Supply Risks Amid Middle East Conflict 
Yen Slides Near Two-Year Low as Fed Holds Rates Amid Middle East Tensions 
Oil Prices Surge Past $100 as U.S.-Israel War on Iran Threatens Global Energy Supply 
Gold Prices Stabilize but Head for Worst Weekly Drop in Six Years Amid Iran War Inflation Fears 
Asian stock markets traded in a choppy, directionless pattern on Friday as surging crude oil prices tied to escalating Middle East tensions rattled investor confidence across the region. The uncertainty followed a weak session on Wall Street, where major indices closed lower amid renewed fears that energy-driven inflation could delay Federal Reserve interest rate cuts. However, U.S. futures nudged higher during Asian trading hours, offering some relief.
Crude oil remained the central market mover after prices briefly spiked to nearly $119 per barrel on Thursday, fueled by concerns over potential supply disruptions near the Strait of Hormuz. Israeli Prime Minister Benjamin Netanyahu confirmed Israel was supporting U.S. efforts to help reopen the strategic waterway. Prices retreated from those highs but the earlier surge continued to unsettle markets, particularly in Asia where many economies are heavily dependent on oil imports.
Among regional benchmarks, South Korea's KOSPI outperformed with a 0.5% gain, buoyed by strength in the technology sector, and was on track for a weekly advance of more than 5%. Meanwhile, Singapore's Straits Times Index slipped 0.3%, and Australia's S&P/ASX 200 edged 0.2% lower. Japanese markets were closed for a public holiday, while futures linked to India's Nifty 50 rose 0.5%.
In China, the People's Bank of China held its loan prime rates steady for the tenth consecutive month, keeping the one-year rate at 3.00% and the five-year mortgage-linked rate at 3.50%, consistent with analyst expectations. Despite the predictable policy decision, Chinese equities declined, with the Shanghai Composite falling 0.3% and Hong Kong's Hang Seng dropping 0.7%. Alibaba shares led losses in Hong Kong, tumbling 5% after the e-commerce giant reported a profit decline attributed to heavy investment spending and sluggish online retail performance.
Global investor sentiment remained cautious following the Federal Reserve's latest signals that persistent oil price inflation could push back the timeline for monetary easing, prompting markets to scale back near-term rate cut expectations.
