India's Nifty and Sensex benchmark indices surged over 1.5 percent for the week, with financial and consumption stocks leading gains, while IT stocks faced pressure.

India's benchmark indices, the Nifty and the Sensex, surged over 1.5 percent for the week.

Tankers have started moving again through the Strait of Hormuz after the U.S. lifted its naval blockade and signed a 14-point memorandum with Iran.

Oil tankers resumed movement through the Strait of Hormuz after the U.S. lifted its naval blockade and the U.S. and Iran signed a 14-point memorandum.

Japan's Nikkei index recorded its biggest weekly gain in nearly two years, rising 7.9% and hitting consecutive record highs, before trimming early gains on Friday due to concerns over difficult negotiations regarding the Iran conflict.

U.S.-Iran talks hit an early snag, confirmed by the Swiss Foreign Ministry, as U.S. Vice President JD Vance pulled out of a planned meeting with Iranian negotiators.