On Friday, oil prices rose by 1.3% to $101.60 per barrel as the US and Iran exchanged fire, marking the most serious test of their ceasefire. Despite this tension, Asian stock markets are poised for impressive weekly gains, particularly driven by demand in artificial intelligence and chip manufacturing. The MSCI index for Asian shares outside Japan fell 0.8%, but South Korea's KOSPI index is up over 12%, the largest weekly gain since 2008, thanks to strong performances from companies like Samsung and SK Hynix. Meanwhile, investors are awaiting the US non-farm payrolls report, which is expected to show an increase of 62,000 jobs in April. Political uncertainties in the UK regarding local elections could further pressure the gilt market, as analysts express concerns over potential impacts on Prime Minister Keir Starmer's leadership. Amid these developments, the dollar has recovered from recent lows, while the Japanese yen remains under scrutiny due to suspected market interventions.