Asian Markets Trade Mostly Lower

(RTTNews) - Asian stock markets are trading mostly lower on Friday, despite the broadly positive cues from Wall Street overnight, as spiking global bond yields and crude oil prices renewed inflation concerns amid potential escalation in the US-Iran conflict after reports of the U.S. sending a third aircraft-carrier, jet fighters and additional 10,000 troops to the Middle East by the end of November. Asian markets ended mixed on Thursday.

Traders look ahead to the release of the US Labor Department's closely watched monthly jobs report later in the day, which is expected to have an impact on the outlook for interest rates.

The Australian stock market is trading notably higher on Friday, reversing some of the sharp losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,650 level, with gains in energy, financial and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 42.30 points or 0.49 percent to 8,656.70, after touching a high of 8,666.90 earlier. The broader All Ordinaries Index is up 37.30 points or 0.42 percent to 8,831.70. Australian stocks closed sharply lower on Thursday.

Among major miners, Mineral Resources and BHP Group are gaining almost 1 percent each, while Fortescue is edging up 0.2 percent. Rio Tinto is edging down 0.1 percent.

Oil stocks are mostly higher. Woodside Energy is adding almost 2 percent, Origin Energy is edging up 0.5 percent, Santos is gaining more than 2 percent and Beach energy is advancing more than 3 percent.

Among tech stocks, Afterpay and Square-owner Block is gaining almost 1 percent, Zip is adding more than 2 percent and Appen is surging almost 6 percent, while Xero and WiseTech Global are advancing more than 4 percent each.

Among the big four banks, National Australia Bank is gaining almost 1 percent, while Commonwealth Bank, Westpac and ANZ Banking are edging up 0.2 to 0.4 percent each.

Gold miners are mixed. Northern Star Resources is gaining almost 2 percent and Genesis Minerals is edging up 0.2 percent. Newmont and Evolution Mining are edging down 0.2 to 0.3 percent each, while Resolute Mining is losing more than 1 percent.

In other news, shares in Lendlease Group are down more than 5 percent after it extended MSG North sale deadline, with possible $160 million funding required if the deal collapses.

Shares in Artrya are jumping almost 17 percent on news that the Huntsville Hospital Health System signed a five-year commercial agreement.

Shares in Data#3 are surging more than 8 percent after it provided strong earnings forecast.

Shares in Praemium are also surging more than 8 percent after the resignation of its CEO Anthony Wamsteker.

In the currency market, the Aussie dollar is trading at $0.693 on Friday.

The Japanese market is trading significantly lower on Friday, reversing some of the gains in the previous two sessions, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 68,400 level, with weakness in index heavyweights and automaker stocks.

The benchmark Nikkei 225 Index closed the morning session at 68,326.72, down 630.00 points or 0.91 percent, after hitting a low of 68,132.16 earlier. Japanese shares ended sharply higher on Thursday.

Market heavyweight SoftBank Group is declining more than 5 percent and Uniqlo operator Fast Retailing is losing almost 2 percent. Among automakers, Toyota is down almost 2 percent and Honda is losing more than 2 percent.

In the tech space, Advantest is advancing almost 4 percent, while Screen Holdings is down more than 1 percent and Tokyo Electron is losing almost 4 percent.

In the banking sector, Sumitomo Mitsui Financial is down almost 1 percent and Mizuho Financial is edging down 0.3 percent, while Mitsubishi UFJ Financial is edging up 0.3 percent.

Among the major exporters, Mitsubishi Electric and Panasonic are edging down 0.1 to 0.5 percent each, while Sony is declining almost 1 percent. Canon is gaining almost 1 percent.

Among other major gainers, Mitsui Kinzoku and Furukawa Electric are jumping almost 6 percent each, while BayCurrent is surging almost 5 percent, Fujikura is advancing more than 4 percent and Sumitomo Electric Industries is gaining almost 4 percent. Lasertec, Resonac Holdings and Inpex are adding almost 3 percent each.

Conversely, Taiyo Yuden is declining more than 3 percent and Terumo is slipping almost 4 percent, while M3 and Nissan Motor are losing more than 3 percent each. Renesas Electronics, Orix, Konica Minolta and Toppan Holdings are down almost 3 percent each.

In economic news, the unemployment rate in Japan came in at a seasonally adjusted 2.5 percent in August, the MIAC said on Friday. That was above expectations for 2.4 percent, which would have been unchanged from the July reading. The jobs-to-applicant ratio was 1.18 - unchanged and matching forecasts.

The MIAC also said overall consumer prices in Japan were up 2.7 percent on year in September. That was above expectations for an increase of 2.5 percent and was up from 1.9 percent in August. Core CPI, which excludes the volatile costs of food, also climbed an annual 2.7 percent. That exceeded forecasts for a gain of 2.4 percent and was up from 1.8 percent in the previous month.

In the currency market, the U.S. dollar is trading in the higher 157 yen-range on Friday.

Elsewhere in Asia, New Zealand and Hong Kong are tumbling 1.0 and 2.7 percent, respectively. Indonesia and Singapore are down 0.4 percent each. Malaysia and South Korea are up 0.3 and 0.2 percent, respectively. Taiwan is relatively flat. China remains closed for National Day holidays until October 8.

On Wall Street, stocks fluctuated over the course of the trading day on Thursday following the mixed performance seen during Wednesday's session. The major averages bounced back and forth across the unchanged line before eventually closing modestly higher.

The S&P 500 rose 14.91 points or 0.2 percent to 7,666.45, while the Dow inched up 20.51 points or less than a tenth of a percent to 50,926.56 and the Nasdaq crept up 10.53 points or less than a tenth of a percent to 26,871.45.

Meanwhile, the major European markets all showed notable moves to the downside on the day. While the German DAX Index slumped by 1 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index tumbled by 1.6 percent and 1.7 percent, respectively.

Crude oil prices showed another substantial move to the upside on Thursday following reports that Chinese refiners have suspended oil product exports for October. West Texas Intermediate crude for November delivery was up $2.53 or 2.8 percent to $92.95 a barrel.