Asian markets settle higher on Friday

Asian markets settled higher on Friday tracking Wall Street’s gains overnight after US President Donald Trump called off new military strikes on Iran and said a peace deal could be signed in a few days, helping ease concerns about conflict-driven inflation and potential interest rate hikes. Moreover, falling crude oil prices also boosted market sentiments. Chinese shares rallied as e-commerce stocks rebounded after falling in the previous session following Beijing’s regulatory warning to major online shopping platforms over misleading sales tactics during the country’s major 618 shopping festival. Seoul shares surged over 4% as foreign investors turned net buyers for the first time in 25 trading sessions.