Asian stock markets are trading mostly lower on Friday, following the broadly negative cues from Wall Street overnight, amid the raging war in the Middle East as Iran toughens its stand. The resultant spike in energy stocks amid surging in crude oil prices is helping limit the losses in the markets in the region. Asian markets ended mostly lower on Thursday.
The new leadership in Iran refused to bow down to U.S. pressure and instead vowed revenge, threatening U.S. allies, and resolving to ramp up attacks. Iran's new Supreme Leader Mojtaba Khamenei vowed to avenge those killed in Iran's war against the U.S.-Israeli joint forces and also said the Strait of Hormuz must remain closed as a "tool to pressure the enemy."
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.