(RTTNews) – Asian stock markets are mostly trading higher on Friday, following mixed signals from Wall Street overnight, as traders mostly make their moves, tracking quarterly earnings updates. They also appear cautious about taking any major steps ahead of the release of the US Department of Labor’s closely watched monthly jobs report later today, which could impact the outlook for interest rates. Asian markets mostly ended higher on Thursday.
The Australian stock market is slightly higher on Friday, recouping some of the losses from the previous two sessions, with the benchmark S&P/ASX 200 index crossing the 7,000 mark, following mixed signals from Wall Street overnight, with strong gains in mining and most technologies. equities partially offset by weakness in energy stocks after crude oil price fell.
The benchmark S&P/ASX 200 gained 27.70 points or 0.40% to 7,002.60, after hitting a high of 7,007.20 earlier. The broader All Ordinaries index is up 29.90 points or 0.42% at 7,237.40. Australian markets ended slightly lower on Thursday.
Among the major miners, Rio Tinto and Fortescue Metals are up more than 1%, while OZ Minerals and Mineral Resources are up almost 2% each. The BHP group adds nearly 1%.
Oil inventories are lower. Origin Energy is down 0.4% and Santos is down nearly 1%, while Beach Energy and Woodside Energy are down 2.5% each.
Among tech stocks, WiseTech Global gains nearly 2%, Appen gains nearly 1% and Zip gains nearly 3%, while Xero loses nearly 1% and Afterpay owner Block plunges nearly 7%. % after publishing its results. Among the big four banks, National Australia Bank and Commonwealth Bank were flat, while Westpac gained almost 1% and ANZ Banking rose 0.4%.
Gold miners are higher. Northern Star Resources and Resolute Mining each gained 3.5%, while Gold Road Resources gained more than 1%, Newcrest Mining gained nearly 2% and Evolution Mining gained 2.5%.
Separately, shares of European Lithium soared more than 18% after signing an agreement with German automaker BMW AG to supply battery-grade lithium hydroxide.
In the currency market, the Australian dollar is trading at $0.697 on Friday.
Japan’s stock market is significantly higher on Friday, extending gains from the previous two sessions, with the benchmark Nikkei 225 rising above the 28,100 level, following mixed signals from Wall Street overnight, boosted by gains from exporters and tech stocks, which mirrored their peers on the tech-heavy Nasdaq.
The benchmark Nikkei 225 closed the morning session at 28,131.87, up 199.67 points or 0.71%, after hitting a high of 28,167.04 earlier. Japanese stocks closed noticeably higher on Thursday.
Market heavyweight SoftBank Group was down 0.3% and operator Uniqlo Fast Retailing gained nearly 1%. Among automakers, Honda lost nearly 2%, while Toyota gained nearly 1%.
In technology, Advantest is up almost 3%, Tokyo Electron is up almost 2%, and Screen Holdings is up over 1%.
In the banking sector, Mitsubishi UFJ Financial lost almost 1%, while Mizuho Financial fell 0.3% and Sumitomo Mitsui Financial was stable.
Among the major exporters, Canon gained nearly 1%, Panasonic rose 0.3% and Sony gained more than 1%, while Mitsubishi Electric fell 0.3%.
Other big gainers include Kikkoman soaring nearly 9%, Nippon Steel jumping nearly 8%, and NEXON gaining more than 4%, while Sumco and Nintendo add more than 3% each. Kyowa Kirin is up almost 3%.
Conversely, JGC Holdings, Konami Group lost nearly 4% and Mitsui E&S Holdings fell more than 3%, while IHI, Inpex, Mitsubishi Motors, Sumitomo Osaka Cement, JGC Holdings and GS Yuasa were down nearly 3% each.
In the currency market, the US dollar is trading in the lower range of 133 yen on Friday.
Elsewhere in Asia, Taiwan is up 2.0%, while China, South Korea, and Singapore are up 0.1 to 0.8% each. Hong Kong, Indonesia and Malaysia are lower by 0.1 to 0.5% each. New Zealand is relatively flat. On Wall Street, stocks posted a relatively lackluster performance during Thursday’s session, with major averages bouncing off the flat line after Wednesday’s rally. Despite the choppy trading, the tech-heavy Nasdaq hit a new three-month closing high.
The main averages finally ended the session on a mixed note. While the Nasdaq rose 52.42 points or 0.4% to 12,720.58, the S&P 500 edged down 3.23 points or 0.1% to 4,151.94 and the Dow Jones fell by 85.68 points or 0.3% at 32,726.82.
Meanwhile, major European markets traded higher on the day. Germany’s DAX index and France’s CAC 40 index both rose 0.6%, while Britain’s FTSE 100 index closed just above the unchanged line after the Bank of England announced its biggest increase in interest rates since 1995.
Crude oil futures stabilized on Thursday on worries about the outlook for energy demand amid growing worries about a possible recession. West Texas Intermediate crude oil futures for September ended down $2.12, or about 2.3%, at $88.54 a barrel, settling below $90 a barrel for the first time since early February.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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