Asian Markets Trade Mostly Lower

(RTTNews) - Asian stock markets are trading mostly lower on Friday, following the mixed cues from Wall Street overnight, as traders digested the latest settlements on the trade tariff front and remained caution as they awaited more clarity on the developments in trade negotiations with other trade partners. Asian markets ended mostly higher on Thursday.

The Australian stock market is trading notably higher on Friday, adding to the gains in the previous seven sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving to above the 8,350 level, with gains across most sectors led by mining, financial and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 53.40 points or 0.64 percent to 8,350.90, after touching a high of 8,398.20 earlier. The broader All Ordinaries Index is up 55.10 points or 0.65 percent to 8,584.90. Australian stocks closed modestly higher on Thursday.

Among major miners, BHP Group, Fortescue Metals and Rio Tinto are gaining more than 1 percent each, while Mineral Resources is losing almost 1 percent. Oil stocks are mostly higher. Origin Energy and Santos are gaining almost 1 percent each, while Woodside Energy and Beach energy are edging up 0.4 to 0.5 percent each.

Among tech stocks, Afterpay-owner Block and Xero are losing almost 1 percent each, while Zip and WiseTech Global are gaining almost 1 percent each. Appen is skyrocketing more than 17 percent after it provided upbeat full-year revenue guidance and a target for "positive" underlying earnings.

Among the big four banks, Commonwealth Bank and National Australia Bank are gaining almost 1 percent each, while ANZ Banking and Westpac are adding more than 1 percent each.

Gold miners are mostly higher. Evolution Mining, Resolute Mining and Newmont are surging more than 4 percent each, while Gold Road Resources is gaining almost 2 percent and Northern Star Resources is adding more than 3 percent.

In other news, shares in Catalyst Metals are surging more than 7 percent after the gold miner said it received the final environmental approval from the DEMIRS to develop its Trident gold project located in Western Australia.

In the currency market, the Aussie dollar is trading at $0.642 on Friday.

Extending the losses in the previous two sessions, the Japanese market is modestly lower on Friday, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling well below the 37,700 level, with weakness across most sectors led by index heavyweights, automakers and technology stocks, amid weaker-than-expected GDP data.

The benchmark Nikkei 225 Index closed the morning session at 37,659.39, down 96.12 points or 0.25 percent, after hitting a low of 37,479.21 earlier. Japanese shares ended significantly lower on Thursday.

Market heavyweight SoftBank Group is losing more than 1 percent and Uniqlo operator Fast Retailing is edging down 0.4 percent. Among automakers, Toyota is losing more than 2 percent and Honda is down more than 1 percent.

In the tech space, Advantest is declining more than 2 percent, while Tokyo Electron and Screen Holdings are losing almost 3 percent each.

In the banking sector, Sumitomo Mitsui Financial is losing more than 1 percent and Mizuho Financial is declining almost 2 percent, while Mitsubishi UFJ Financial is gaining more than 2 percent.

Among the major exporters, Sony is losing more than 3 percent and Canon is declining 1.5 percent, while Panasonic is edging up 0.3 percent and Mitsubishi Electric is gaining almost 3 percent.

Among other major losers, Japan Post is losing more than 4 percent, while Nisshin Seifun, Rakuten Group and J. Front Retailing are declining more than 3 percent each. Furukawa Electric, Recruit Holdings, BayCurrent, Renesas Electronics and Dai Nippon Printing are all down almost 3 percent each.

Conversely, CyberAgent is skyrocketing almost 15 percent, Credit Saison is soaring more than 12 percent and Oriental Land is gaining almost 3 percent.

In economic news, the Japanese economy contracted a seasonally adjusted 0.2 percent on quarter in the first quarter of 2025, the Cabinet Office said on Friday - missing expectations for a decline of 0.1 percent following the 0.6 percent gain in the three months prior. On an annualized basis, GDP was down 0.7 percent - again missing forecasts for a drop of 0.2 percent following the upwardly revised 2.4 percent increase in the previous quarter (originally 2.2 percent).

Capital expenditure was up 1.4 percent on quarter, exceeding expectations for an increase of 0.8 percent, which would have been unchanged from the preceding three months. External demand was down 0.8 percent on quarter, while private consumption was flat.

In the currency market, the U.S. dollar is trading in the lower 145 yen-range on Friday.

Elsewhere in Asia, New Zealand, China, Hong Kong, Singapore and Indonesia are lower by between 0.1 and 1.0 percent each, while Malaysia and Taiwan are up 0.2 and 0.4 percent, respectively. South Korea is relatively flat.

On Wall Street, stocks turned in another relatively lackluster performance during trading on Thursday after experiencing choppy trading during Wednesday's session. The major averages fluctuated over the course of the day before eventually closing mixed.

While the Nasdaq dipped 34.49 points or 0.2 percent to 19,112.32, the S&P 500 rose 24.35 points or 0.4 percent to 5,916.93 and the Dow climbed 271.69 points or 0.7 percent at 42,322.75.

Meanwhile, the major European markets moved to the upside on the day. While the German DAX Index advanced by 0.7 percent, the U.K.'s FTSE 100 Index climbed by 0.6 percent and the French CAC 40 Index rose by 0.2 percent.

Crude oil prices showed a substantial move to the downside on Thursday on reports the U.S. is very close to reaching a nuclear deal with Iran. Crude for June delivery plunged $1.53 or 2.4 percent to $61.62 a barrel.