This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets mostly fell on Friday as U.S. President Donald Trump's tariff threats kept investors on edge.

Japan's Nikkei 225 lost 1.8% to end the day at 37,120.33, its lowest level in about two weeks, while the Topix fell 2.07% to 2,757.25. South Korea's Kospi traded 1.89% lower to 2,557.98, while the small-cap Kosdaq dipped 1.94% to 693.76.

Hong Kong's Hang Seng Index slid 0.65% to close at 23,426.6 while mainland China's CSI 300 dipped 0.44% to close at 3,915.17.

Australia's S&P/ASX 200 added 0.16% to close at 7,982 as Prime Minister Anthony Albanese announced a national election on May 3, kicking off a five-week campaign.

Meanwhile, the Stock Exchange of Thailand announced the "immediate suspension of all trading activities" following a strong earthquake in Myanmar.

Investors will continue eyeing shares of automakers after they declined on Thursday following Trump's announcement of 25% tariffs on "all cars that are not made in the United States."

The president's comments this week regarding the upcoming April 2 tariffs, however, have eased some concerns for investors. Recently, Trump mentioned that the tariffs would be "very lenient" and expressed a willingness to lower tariffs on China to facilitate a deal with ByteDance's TikTok.

On Thursday, he also used tariffs as a bargaining tool, warning that he could impose "far larger" duties on the European Union and Canada, if they join forces to oppose the levies.

U.S. stock futures were little changed as investors grappled with ongoing tariff uncertainty.

Overnight in the U.S., the three major averages closed lower. The Dow Jones Industrial Average dropped 155.09 points, or 0.37%, to end at 42,299.70. The S&P 500 declined 0.33% to close at 5,693.31, and the Nasdaq Composite slid 0.53% to settle at 17,804.03.

CNBC's Pia Singh and Brian Evans contributed to this report.

Thailand suspends trading after Myanmar earthquake

The Stock Exchange of Thailand announced the "immediate suspension of all trading activities" following a strong earthquake in Myanmar.

"The closure affects all markets, including SET, mai, and TFEX, for today's afternoon session," the exchange said in a statement.

"Further updates regarding the next operations will be communicated through official channels."

Read more here.

— Katrina Bishop

Singapore's Straits Times Index hits new high

The Singapore Straits Times Index (STI) rose to a record high, crossing the 4,000-mark for the first time, data from LSEG showed.

"Strong contributors in the STI include the banking and telecommunications sector," said Daphne Tan, director of business development at CMC Markets Singapore.

"Breaking this level suggests a strengthening sentiment, but sustaining it would depend on global stability and market fundamentals," she added.

—Lee Ying Shan

Gold prices hit another record high

Gold futures listed on the COMEX hit another record high to trade at $3,082.7 per ounce as investors continue to flock to the safe haven investment and central bank purchases remain strong.

Goldman Sachs raised its forecast for gold prices to $3,300 per ounce by the end of the year, up from $3,100, on the back of continued strength in purchases by central banks.

"While the uncertainty is large, we estimate that large Asian central bank buyers are likely to continue their rapid gold purchases for another 3-6 years," the investment bank's analysts said.

—Lee Ying Shan

Shares of Japanese and South Korean automakers extend declines

Shares of Asia's automakers extended declines as investors continue to assess U.S. President Donald Trump's 25% tariffs on cars not made in the country.

Japanese automakers Toyota and Honda fell 4.49% and 4.33% respectively. Nissan declined 1.46% and Mazda Motor lost over 3%. Mitsubishi Motor declined 1.15%. South Korea's Kia Motors, traded 2.35% lower.

—Lee Ying Shan

Tokyo's core CPI in March rose 2.4% year-on-year

Japan's capital of Tokyo saw its core inflation for March, which excludes costs of fresh food, come in at 2.4% year-on-year. The reading beats expectations of a 2.2% climb, and is higher than February's 2.2%.

Tokyo's overall CPI came in at 2.9%, same as the previous month.

—Lee Ying Shan

Stocks end Thursday in the red

The S&P 500 shed 0.33% to end at 5,693.31, while the Nasdaq Composite lost 0.53% to close at 17,804.03. The Dow Jones Industrial Average lost 155.09 points, or 0.37%, to settle at 42,299.70.

— Pia Singh

Trump says he might cut China tariffs to help further a TikTok deal

President Trump said on Wednesday that he might reduce tariffs on China to help facilitate a deal that would have ByteDance sell the U.S. operations of TikTok. He also said it is possible he will extend the TikTok deadline again.

A national security law requires ByteDance to divest TikTok's U.S. operations or face an effective ban in the country, but Trump in January signed an executive order that delayed the deadline for a deal to April 5. The president has said that he wants the U.S. to have a 50% ownership position in TikTok via a joint venture.

— Pia Singh, Jonathan Vanian