Asia-Pacific markets were set to trade mixed on Friday as investors assessed the durability of a U.S.-brokered peace agreement with Iran.

The US and Iran are preparing for initial talks in Switzerland on Friday to execute a recently signed Memorandum of Understanding (MoU).

The US and Iran will meet on Friday for initial talks in Switzerland on the execution of their recently signed Memorandum of Understanding.

U.S. stocks rebounded on Thursday, with the Nasdaq Composite jumping almost 2%, while Intel shares surged after President Donald Trump claimed a partnership with Apple for U.S. chip production, and oil prices fell following a U.S.-Iran agreement to end conflict and reopen the Strait of Hormuz.

Stocks closed higher on Wall Street, with the S&P 500 rising 1.1%, the Dow Jones Industrial Average adding 0.1%, and the Nasdaq composite jumping 1.9%.

US markets, specifically the S&P 500 and Nasdaq, recovered mid-week losses on Thursday, June 18, led by chip stocks, while consultancy stocks declined following Accenture's results miss.

Asian stocks reached a record high, fueled by optimism that the reopening of the Strait of Hormuz will normalize oil flows and ease inflation.