Japan CPI, Iran explosions, Israel strikes

Japan’s Nikkei 225 led losses in Asia on Friday, falling 3.3%, while the broad based Topix fell 2.78%, along with most other major Asian markets also declined.

The losses come after unconfirmed reports of explosions in Iran, sending stocks tumbling and safe-haven assets higher. Gold hit an all-time high as the Japanese yen also strengthened, while bitcoin plunged. Oil prices jumped more than 3% with global benchmark Brent crude futures crossing $90 a barrel.

On Friday, Japan released its March inflation data, with the headline inflation rate coming in at 2.7%, down from the 2.8% seen in February.

The core inflation rate — which strips out fresh food prices — stood at 2.6%, in line with expectations from economists polled by Reuters.

South Korea’s Kospi was 2.83% lower after leading gains in Asia on Thursday, while the small-cap Kosdaq tumbled 3.25%

In Australia, the S&P/ASX 200 fell 1.59% lower.

Hong Kong’s Hang Seng index was down 1.49%, while the mainland Chinese CSI 300 slipped 0.68%.

Overnight on Wall Street, all three major indexes ended mixed, with the S&P 500 posting five straight days of losses, its longest losing streak since last October. The broad index lost 0.22%, while the Nasdaq Composite dropped 0.52%.

The Dow Jones Industrial Average added 0.06%, closing just above its flatline for 2024.