Global Markets: Asian stocks dip as traders await ceasefire news

The MSCI Asia Pacific Index closed lower on Friday, ending a three-day rally. President Donald Trump expressed optimism about securing a permanent ceasefire with Iran, which led to a decline in crude oil prices and a slight increase in gold prices. Investors are awaiting progress in talks that could reopen the Strait of Hormuz and ease pressure on economies after oil prices surged following the conflict's onset. While markets have reached record highs, economists warn that they may be underestimating the war's economic toll.