Asian markets settled mostly lower on Friday tracking Wall Street’s slight weakness as investors digested the latest US earnings reports, with Apple warning that rising costs are squeezing margins. Investors opted for a risk off approach after U.S. President Donald Trump threatened Canada with a 50% tariff on all aircraft sold in the United States and also signed an executive order that would impose a tariff on any goods from countries that sell or provide oil to Cuba, a step that raises fresh pressure on Mexico. China's Shanghai Composite fell as a sudden drop in gold prices combined with regulatory action to limit speculative losses triggered a sell-off in miners and other materials shares. However, Japan's Nikkei rose marginally as weaker-than-expected inflation data from Tokyo eased pressure on the Bank of Japan to hike rates again soon. Seoul shares ended marginally higher, hitting a new record high, despite data showed South Korea's industrial output grew at the slowest pace in five years in 2025.