Asian Markets Mixed Amid Cautious Trades

(RTTNews) - Asian stock markets are trading mixed on Friday, following the broadly positive cues from global markets overnight, as traders largely stayed reluctant to make significant moves amid a lack of any new catalyst after a holiday on Wall Street. They now await the release of crucial US monthly jobs report later in the day for cues on the outlook for interest rates. Asian markets ended mixed on Thursday.

Softer-than-expected recent US economic data fueled speculation that the US Fed could slash interest rates in September.

Reversing the gains in the previous two sessions, the Australian stock market is modestly lower on Friday, despite the broadly positive cues from global markets overnight. The benchmark S&P/ASX 200 is staying above the 7,800 level, with a mixed performance across most sectors as traders remain cautious ahead of the crucial US monthly jobs report later in the day.

The benchmark S&P/ASX 200 Index is losing 12.30 points or 0.16 percent to 7,819.50, after hitting a low of 7,807.70 earlier. The broader All Ordinaries Index is down 12.50 points or 0.16 percent to 8,066.60. Australian markets ended sharply higher on Thursday.

Among major miners, BHP Group and Rio Tinto are edging down 0.3 to 0.5 percent each, while Fortescue Metals is losing more than 1 percent. Mineral Resources is edging up 0.2 percent. Oil stocks are mixed. Santos is losing almost 1 percent, while Origin Energy and Beach energy are edging up 0.2 to 0.5 percent each. Woodside Energy is flat.

Among tech stocks, Afterpay owner Block is edging down 0.3 percent and Zip is losing more than 3 percent, while Xero and WiseTech Global are edging up 0.1 to 0.5 percent each. Appen is flat.

Among the big four banks, Commonwealth Bank, Westpac and National Australia Bank are edging down 0.2 to 0.4 percent each, while ANZ Banking is flat. Gold miners are mostly higher. Evolution Mining is gaining almost 1 percent and Resolute Mining is adding more than 1 percent, while Northern Star Resources, Newmont and Gold Road Resources are edging up 0.1 to 0.2 percent each.

In the currency market, the Aussie dollar is trading at $0.673 on Friday.

Adding to the gains in the previous five sessions, the Japanese stock market is modestly higher in choppy trading on Friday, following the broadly positive cues from global markets overnight. The benchmark Nikkei 225 is moving above the 41,000 mark, with a mixed performance across most sectors as traders remain cautious ahead of the crucial US monthly jobs report later in the day.

The benchmark Nikkei 225 Index closed the morning session at 41,051.49, up 137.84 points or 0.34 percent, after touching a high of 41,100.13 earlier. Japanese stocks closed significantly higher on Thursday.

Market heavyweight SoftBank Group is edging down 0.2 percent, while Uniqlo operator Fast Retailing is edging up 0.3 percent. Among automakers, Honda is losing more than 2 percent and Toyota is down more than 1 percent.

In the tech space, Advantest is losing more than 1 percent, while Tokyo Electron is edging up 0.3 percent and Screen Holdings is gaining almost 3 percent.

In the banking sector, Mitsubishi UFJ Financial is edging down 0.1 percent and Mizuho Financial is losing almost 1 percent, while Sumitomo Mitsui Financial is edging up 0.2 percent.

Among major exporters, Mitsubishi Electric is gaining more than 1 percent and Panasonic is adding almost 1 percent, while Canon is losing almost 2 percent. Sony is flat.

Among other major gainers, Isetan Mitsukoshi is gaining almost 4 percent and Mercari is adding more than 3 percent.

Conversely, Nippon Yusen K.K. is losing almost 3 percent.

In the currency market, the U.S. dollar is trading in the higher 160 yen-range on Friday.

Elsewhere in Asia, New Zealand, China, Hong Kong, Singapore and Malaysia are lower by between 0.1 and 0.9 percent each. South Korea is up 1.4 percent, while Indonesia and Taiwan are up 0.4 and 0.1 percent, respectively. On Wall Street, the markets were closed for Independence Day on Thursday after closing mostly higher on Wednesday.

Meanwhile, the major European markets moved to the upside on this day. The U.K.'s FTSE 100 Index climbed by 0.9 percent, the French CAC 40 Index improved 0.8 percent and the German DAX Index rose by 0.4 percent.

Crude oil prices fell in cautious trade Thursday on worries about demand against the backdrop of slowing U.S. growth. The downside remained capped after data showed a much larger than expected drop in U.S. crude inventories in the week ended June 28th. West Texas Intermediate Crude oil futures for August were down half a percent at 83.43.