Asian stocks ended higher on Friday, extending gains from the previous session on rising hopes for a diplomatic resolution to the Middle East conflict. With Iran reviewing the latest proposal from the U.S. and Pakistan acting as the mediator, investors are pinning hopes that the tree-month war may end soon with a peace deal. The dollar was firm around a six-week high and spot gold dipped toward $4...
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.