Asian markets settle mostly higher on Friday

Asian markets settled mostly higher on Friday tracking Wall Street’s gains overnight, with Brent crude falling below $92 a barrel as geopolitical tensions eased after reports of a proposed 60-day ceasefire extension between the US and Iran as well as the possible easing of shipping restrictions through the Strait of Hormuz. Japan’s Nikkei surged above 66,000 for the first time ever led by artificial intelligence and semiconductor-related shares, and after data showed Tokyo's core inflation rate rose more slowly than expected in May. South Korea’s Kospi jumped to a new record high, driven by strong gains in artificial intelligence-related stocks on expectations surrounding CEO Nvidia Jensen Hwang's visit to Korea.