Asian shares traded mixed on Thursday, with Chinese equities falling while other regional markets posted gains, as investors reacted to outcomes from US President Donald Trump’s meeting with Chinese leader Xi Jinping in Beijing.

Bitcoin climbed above $80,000 for the first time in more than three months, reaching its highest level since late January, as broader financial markets in Asia advanced toward record highs.

Global commodity, equity, and currency markets showed mixed performance, with oil prices holding near recent highs, gold extending gains, and stock indices diverging across regions.

Asian shares rallied sharply in Wednesday morning trading as oil prices tumbled following a two-week ceasefire agreement between the U.S. and Iran, which includes reopening the Strait of Hormuz.

Shares across Asia have opened mostly higher on Friday after a volatile day of trade in Wall Street overnight.

Shares across Asian markets plunged as growing fears that an expanding war in the Middle East could trigger an oil shock, drive inflation higher and delay expected interest rate cuts.

Asian stock markets were mostly higher on Thursday, with benchmark indexes in Japan and South Korea reaching fresh record levels, even after Wall Street lost momentum following a stronger-than-expected US jobs report. US stock futures edged up in early trading.

Asian stock markets mostly advanced on Wednesday after the benchmark S&P 500 closed at another record high, supported by data showing the U.S. economy expanded at a stronger-than-expected 4.3% annual rate from July through September.

Indian stock markets remained closed on October 22 for the Bali Pratipada festival, as per the official NSE holiday calendar.

Asian stock markets fluctuated on Friday, wrapping up a strong week for investors after the US interest rate cut.