Asian stock markets experienced a broad decline, ending a five-day winning streak amid thin trading due to holidays in several major markets, as investors assessed the durability of the US-Iran peace agreement.

The MSCI Asia Pacific Index fell by as much as 1.2%, weighed down by declines in shares of Samsung Electronics Co Ltd and BHP Group Ltd. South Korea's Kospi index led the regional losses, dropping up to 2%. A global sell-off in technology stocks, triggered by Accenture Plc's downward revision of its revenue growth forecast, sent Indian software companies sharply lower. Markets in mainland China, Hong Kong, Taiwan, and the United States were closed for holidays on Friday.

Investors are closely monitoring developments in the nuclear talks with Tehran and the sustainability of the ceasefire agreement. Concerns about inflation persist despite falling oil prices, with central banks including the U.S. Federal Reserve maintaining a hawkish stance.

Ritesh Ganeriwal, Chief Investment Officer at Syfe Pte in Singapore, noted, "The market received two significant but conflicting signals this week. The current message is clear: the inflation threat will not disappear even if the war ends."

Shares of Infosys Ltd tumbled 8.7%, and Tata Consultancy Services Ltd fell 6.5%, as Accenture's pessimistic outlook heightened market worries about the sector, which has already lost nearly 30% of its market value this year.