Asian stock markets are trading mostly lower on Friday, following the broadly negative cues from Wall Street overnight, as hopes for a speedy resolution to the Middle East war faded after Tehran vowed to keep the Strait of Hormuz closed until the port blockades by the US remain, raising concerns of surging crude oil prices and long-term inflation. Asian markets ended mostly lower on Thursday.
Concerns about a re-escalation of the U.S.-Iran war also weighed on the markets after US President Donald Trump ordered the US Navy to "shoot and kill any boat" that is putting mines in the waters of the Strait of Hormuz.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.