Asian markets were mixed on Friday after a modest pullback on Wall Street, as oil prices retreated from recent highs reached amid escalating conflict involving Iran. Futures for major United States stock indexes pointed slightly higher, even as Israeli airstrikes continued in Iran and Lebanon, intensifying uncertainty across global markets.

In Asia, shares fell in South Korea and Australia but rose in Japan, Hong Kong, and mainland China. Markets have swung sharply throughout the week, reflecting investor anxiety over the conflict and its potential economic fallout. Taiwan and India also posted losses.

Oil prices dropped more than one dollar per barrel after surging earlier in the week on concerns about supply disruptions, particularly around the Strait of Hormuz, a key route for global crude shipments. Analysts warned that a sustained rise toward one hundred dollars per barrel could strain the global economy. On Wall Street, major indexes declined, with airline stocks among the hardest hit due to rising fuel costs, while a strong earnings report from a semiconductor company helped limit broader losses. Gold and silver prices climbed as investors sought safer assets.