Australia: Equities Extend Slide, Weekly Drop Looms.

Australian shares slipped 37 points, or 0.4%, to 8,918 in early Friday trade, extending losses for a second session and heading toward the first weekly decline in four, down 0.5% so far. Sentiment continued to weaken on soft domestic data: April inflation expectations surged to a three-year high while employment in March posted the smallest gain in four months. Externally, risks of slower growth in top trading partner China amid Middle East tensions weighed, despite stronger-than-expected Q1 expansion. Still, losses were capped by firmer U.S. futures after President Donald Trump signaled the Iran war may end soon, with Israel and Lebanon agreeing to a 10-day ceasefire. Retail, logistics, and financials led declines, offset partly by gains in commercial services and consumer stocks. Notable laggards included Cochlear (-2.2%), Ramelius Resources (-2.1%), and Perseus Mining (-1.6%), while the big four banks fell between 0.3% and 1.1%.