Amman, May 7 (Petra)-- Asian stocks retreated from record highs as rising oil prices and escalating tensions in the Middle East heightened concerns over global energy supplies.

According to Bloomberg, the MSCI Asia-Pacific Index fell by 1.2 percent, reflecting investor caution across regional markets.

Japan’s Nikkei index pulled back from the all-time high it reached in the previous session, slipping 0.3 percent to close at 62,636.00 points. The benchmark had surged 5.6 percent on Thursday, ending at a record level after surpassing the psychological 63,000-point mark for the first time.

Meanwhile, the broader Topix index declined 0.66 percent to 3,815.09 points.

Despite Friday’s decline, Asian equities remain on track to post one of their strongest weekly performances this year.

South Korea led gains across Asian markets during the week, supported by continued momentum in artificial intelligence-related stocks.

//Petra// MF