Asian markets settle mostly lower on Friday

08 May 2026 Evaluate

Asian markets settled mostly lower on Friday tracking Wall Street’s fall overnight and as renewed tensions between the US and Iran in the Strait of Hormuz drove oil prices back above the $100 a barrel mark and revived inflation worries. US President Donald Trump insisted that the ceasefire remained in effect but warned of harsher military action if no deal is signed quickly. Hong Kong shares dropped, largely driven by caution ahead of key earnings reports from tech giants Alibaba and Tencent scheduled for next week. Japanese markets fell on profit-taking after recent gains, while the yen traded moderately higher against the US dollar on intervention fears and expectations of a hawkish shift at the Bank of Japan ahead of US Treasury Secretary Scott Bessent's visit to Tokyo next week. China’s Shanghai Composite closed flat as investors remained cautious following recent US-Iran military tensions and the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing on May 14-15, 2026. Discussions are expected to cover critical issues including trade tariffs, technology competition, and fentanyl control.

However, Seoul shares ended slightly higher as gains in AI-related chip stocks continued to support investor sentiment. Meanwhile investors globally awaited the release of the US non-farm payrolls report later in the day for directional cues after private sector job growth soared in April.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	4,179.95	-0.14	0.00
Hang Seng	26,393.71	-232.57	-0.87
Jakarta Composite	6,969.40	-204.92	-2.94
KLSE Composite	1,748.06	-10.79	-0.61
Nikkei 225	62,713.65	-120.19	-0.19
Straits Times	4,921.90	-20.06	-0.41
KOSPI Composite	7,498.00	7.95	0.11
Taiwan Weighted	41,603.94	-329.84	-0.79

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