Asia-Pacific markets traded lower on Friday as investors weighed prospects of a prolonged United States-Iran war, with top White House advisers reportedly warning President Donald Trump that the conflict could stretch beyond his term.
Top White House advisers have discussed with Trump the possibility that the Iran war could drag on past Inauguration Day in January 2029, U.S. officials told The Wall Street Journal.
By 11:45 am AEST (1:45 am GMT), Australia's S&P/ASX 200 was trading 0.8% lower, Japan's Nikkei 225 had fallen 3.1%, while South Korea's KOSPI 200 dipped 2.7%.
Among data releases, Japan's wholesale inflation remained elevated in August, with the producer price index (PPI) rising 7.6% from a year earlier, faster than the median market forecast for a 7.4% increase, Bank of Japan data showed on Friday.
It followed a revised 7.7% gain in July.
On a month-on-month basis, the index dipped 0.2% in August, after a revised 0.4% increase in July, the data showed.
In the U.S. overnight, major benchmark averages extended declines. The Dow Jones Industrial Average fell 0.6%, the S&P 500 declined 0.6% and the Nasdaq lost 0.7%.
In commodities on Thursday, ICE Brent jumped 6.3% to settle at US$107.63 a barrel, touching its highest level since 21 May, while spot gold fell 1.9% to settle at US$4,316.88 an ounce.
In China on Thursday, the SSE Composite Index dipped 0.4% to 3,934.4, while the CSI 300 lost 0.5% to 4,548.4.
Hong Kong's Hang Seng Index fell 1.3% to 24,954.5, while India's BSE Sensex ticked up 0.2% to 74,902.6.
European markets finished lower across the board on Thursday. The UK's FTSE 100 fell 0.6% to 10,608.9, Germany's DAX finished 0.8% lower at 25,361.2, and France's CAC 40 declined 0.5% to 8,116.8.
