Asian stock markets are trading mostly higher for the second straight day on Friday, following the broadly positive cues from Wall Street overnight, on easing crude oil prices and global inflation pressures as traders watched the ongoing diplomatic process to end U.S.-Iran hostilities in the Middle East with positivity. The continuing blockade on the Strait of Hormuz shipping traffic capped the upward movement. Asian markets ended mostly higher on Thursday.
Traders also reacted to reports suggesting that Iran's Supreme Leader has issued a directive that the country's near-weapons-grade uranium should not be sent abroad. Later, a senior Iranian official denied the reports and said no new order has been issued, calling the reports "propaganda by the enemies of the deal."
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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.