Asian equity markets declined on Friday as investors took profits following a strong rally driven by growing optimism over a potential end to the US-Iran conflict. US President Donald Trump expressed confidence that the war with Iran would conclude soon, saying Tehran had agreed to terms including abandoning nuclear ambitions and reopening the Strait of Hormuz. Trump also announced a 10-day ceasefire between Israel and Lebanon, a move seen as potentially supporting further US-Iran negotiations. Shares across Australia, Japan, South Korea, Hong Kong, and China all moved lower, though regional benchmarks remain on track for weekly gains despite the pullback.

The dollar index stabilized above 98 on Friday but remained on track for a third consecutive weekly decline, as improving prospects for an end to the US-Iran conflict reduced safe-haven demand and eased inflation concerns tied to energy markets. In the latest developments, President Donald Trump expressed confidence that the war with Iran will end soon, claiming Tehran had agreed to terms including abandoning nuclear ambitions and reopening the Strait of Hormuz. Trump also announced a 10-day ceasefire between Israel and Lebanon, which could support further US-Iran negotiations. Oil prices have continued to retreat, helping to temper inflation expectations and reducing bets that the Federal Reserve will need to tighten policy. Fed Bank of New York President John Williams said heightened uncertainty should limit forward guidance on the policy path, although his baseline outlook still includes rate cuts over the longer term.

Singapore’s non-oil domestic exports (NODX) surged 15.3% yoy in March 2026, accelerating sharply from a 4.0% rise in February. This marked the seventh consecutive month of expansion and the fastest growth since October last year, with electronics continuing to grow strongly (74.0% vs. 43.1% in February), supported by robust AI-related demand and a low base a year ago. Electronic exports were boosted mainly by ICs (113.8%), disk media products (78.3%), and PCs (57.3%). Meanwhile, non-electronics declined 0.6%, following a 6.9% fall in February, weighed down by declines in ship and boat structures (-99.8%), food preparations (-42.0%), and pharmaceuticals (-18.4%). By destination, shipments grew to Hong Kong (99.4%), Taiwan (63.1%), South Korea (44.1%), India (27.2%), Malaysia (20.6%), and China (20.3%). However, exports fell to Indonesia (-56.8%), the US (-2.7%), Thailand (-1.0%), and the EU (-11.9%). For Q1, NODX grew 9.6%. Monthly, NODX rose 3.0%, slowing from 3.9% growth in February.

US stock futures were little changed on Friday after US President Donald Trump signaled optimism over a potential agreement to end the conflict with Iran, saying Tehran had accepted terms it has long resisted. Trump also announced a 10-day ceasefire between Israel and Lebanon, later confirmed by Israeli Prime Minister Benjamin Netanyahu. In regular trading on Thursday, the S&P 500 and Nasdaq Composite rose 0.26% and 0.36%, respectively, with both benchmarks closing at fresh record highs, while the Dow added 0.24%. Seven of the 11 S&P sectors finished higher, led by gains in energy, real estate, and technology. In corporate developments, Netflix shares fell nearly 10% in extended trading after the company issued a soft second-quarter outlook and said co-founder and chairman Reed Hastings would step down from the board in June.

Gold held steady near $4,800 an ounce on Friday and was on track for a fourth consecutive weekly advance, as prospects for a permanent ceasefire agreement between the US and Iran helped ease concerns over inflation and central bank rate hikes. President Donald Trump said Tehran had agreed to terms including abandoning ambitions for a nuclear weapon, supplying “free oil,” and reopening the Strait of Hormuz, although Iranian officials have yet to verify these claims. Despite this, the Strait of Hormuz remains effectively closed under a dual blockade, while IMF Executive Director Fatih Birol cautioned that restoring a meaningful portion of disrupted oil and gas output could take up to two years. Even so, oil prices have retreated sharply amid growing optimism over a potential Iran deal, easing inflationary pressures and dampening expectations of further rate hikes. Gold is set to rise by about 1% this week and remains roughly 17% above its March low.

Annual food inflation in New Zealand slowed to 3.4% in March 2026 from 4.5% in the previous month, marking the first monthly moderation in three months. The latest figure also represented the lowest level since February 2025. The meat, poultry, and fish group rose 7.3% (vs. 7.5% in February), making the largest contribution to the annual increase in food prices, followed by restaurant meals and ready-to-eat food, which rose 2.8% (vs. 2.7% in February). By contrast, prices for olive oil and free-range eggs fell 7.6% and 10.3%, respectively. On a monthly basis, food prices fell 0.6%, mainly driven by declines in fruit and vegetables (-2.9%) and grocery food (-0.8%).