CANBERA (dpa-AFX) - Asian stocks ended mixed on Friday as tariff worries and rising Middle East tensions prompted traders to book some profits after recent gains.
Reports of Israeli airstrikes on Gaza and fresh U.S. sanctions on Iran pushed crude oil prices higher, reigniting worries about inflation and raising bets the Federal Reserve may delay rate cuts.
The dollar was on the front foot against major peers, exerting pressure on bullion in Asian trade.
China's Shanghai Composite index dropped 1.29 percent to 3,364.83 amid a lack of fresh catalysts and ahead of results from some of China's biggest banks and consumer firms due next week.
Hong Kong's Hang Seng index fell 2.19 percent to 23,689.72 as China stimulus hopes faded. Tech giants Alibaba and Baidu fell 3.5 percent and 2.5 percent, respectively.
Japanese markets ended mixed on the back of weaker yen and softer inflation data.
Japan's core inflation eased in February, but price pressures remained strong in key categories, supporting further policy normalization by Bank of Japan.
The Nikkei average slid 0.20 percent to 37,677.06 while the broader Topix index settled 0.29 percent higher at 2,804.16.
Seoul stocks rose for a fifth straight session, with the Kospi average rising 0.23 percent to 2,643.13 led by chip-related stocks.
Samsung Electronics rallied 2.5 percent and SK Hynix surged 2.6 percent after memory-chip maker Micron Technology reported better-than-expected second-quarter earnings, signaling strong demand for its high-bandwidth memory (HBM) chips used by the AI industry.
Australian markets edged up slightly, with miners and consumer staple stocks leading the surge.
The benchmark S&P/ASX 200 ended up 0.16 percent at 7,931.20 while the broader All Ordinaries index closed up 0.12 percent at 8,158.70.
BHP and Rio Tinto gained about 1 percent each after iron ore prices rose for the first time in days.
Grocer Woolworths surged 6.3 percent and Coles Group added 4.9 percent due to the lack of aggressive reforms from the country's competition watchdog.
Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.49 percent to 12,113.54.
U.S. stocks fluctuated before closing modestly lower overnight on fears over President Trump's tariffs and signs of escalating geopolitical tensions, following reports of Israeli airstrikes on Gaza and a huge blast triggered by a Ukrainian drone attack on a Russian airfield.
Jobless claims held steady last week and there was an unexpected increase in existing home sales, helping calm concerns about an economic slowdown.
The tech-heavy Nasdaq Composite slipped 0.3 percent and the S&P 500 eased 0.2 percent while the narrower Dow ended little changed.
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