Asian stock markets declined on Friday, pressured by weakening technology stocks as U.S.-Iran peace negotiations stalled and oil prices climbed again, while investors assessed slightly firmer inflation data from Japan.

Markets across the region mirrored losses from Wall Street overnight, where tech shares came under strain. Meanwhile, U.S. stock futures edged higher during Asian trading after President Donald Trump announced an extension of the Israel-Lebanon ceasefire.

Asian stock markets found it difficult to build on recent gains following a strong rally fueled by artificial intelligence-related stocks. Investor sentiment remained pressured by persistent geopolitical tensions in the Middle East. Stalled talks between Washington and Tehran, along with continued disruptions in the Strait of Hormuz, kept crude prices elevated above $105 per barrel, raising inflation concerns and curbing demand for riskier assets.

Trump’s decision to extend the Israel-Lebanon ceasefire provided only modest support to markets.

South Korea’s Kospi index slipped 0.03 percent, after reaching a record high of 6,557.56 in the previous session. The index remained set for over a 4 percent weekly increase, supported by advances in major chipmaking stocks.

China’s Shanghai Composite dropped 0.45 percent, while the blue-chip CSI 300 declined 0.53 percent. Hong Kong’s Hang Seng index fell 0.14 percent.