Asian Markets Trading Mixed

(RTTNews) - Asian stock markets are trading mixed on Monday, following the broadly positive cues from Wall Street on Friday and as traders reacted to China's central bank keeping key lending rates unchanged, which disappointed expectations for policy easing to boost the domestic economy. They also reacted to data showing a significant improvement in U.S. consumer sentiment as well as a continued decrease in inflation expectations. Asian markets closed mixed on Friday.

The Australian stock market is trading notably higher on Monday, extending the gains in the previous session, with the benchmark S&P/ASX 200 staying above the 7,400.00 level, following the broadly positive cues from Wall Street on Friday, with gains in technology and financial stocks, partially offset by losses in iron ore miners and energy stocks.

The benchmark S&P/ASX 200 Index is gaining 46.70 points or 0.63 percent to 7,467.90, after touching a high of 7,483.00 earlier. The broader All Ordinaries Index is up 39.60 points or 0.52 percent to 7,691.90. Australian stocks closed significantly higher on Friday.

Among the major miners, Rio Tinto is losing almost 1 percent, Mineral Resources is plunging almost 7 percent and Fortescue Metals is edging down 0.3 percent. BHP Group is flat.

Oil stocks are mostly lower. Beach energy, Santos, Origin Energy and Woodside Energy are all edging down 0.1 to 0.5 percent each.

Among tech stocks, Xero is gaining almost 2 percent, Afterpay owner Block is adding almost 3 percent, WiseTech Global is advancing 1.5 percent and Zip is soaring 11 percent following a strong December quarter and guidance of $29 million and $33 million in earnings for the first half of its fiscal year. Meanwhile, Appen is plummeting 39 percent it lost a key $125 million contract with Google

Gold miners are mixed. Gold Road Resources is edging up 0.2 percent, Northern Star Resources is adding 1.5 percent and Resolute Mining is advancing more than 3 percent, while Evolution Mining is losing almost 2 percent and Newmont is edging down 0.3 percent.

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

In other news, Shares in Liontown Resources tumbled 20 percent on news it was reviewing the planned expansion of its WA lithium project Kathleen Valley due to weak spodumene prices.

In the currency market, the Aussie dollar is trading at $0.660 on Monday.

The Japanese stock market is trading significantly higher on Monday, extending the gains in the previous session. The benchmark S&P/ASX 200 is moving above the 36,300 level to 34-year highs, following the broadly positive cues from Wall Street cues on Friday, with gains across most sectors led by index heavyweights and technology stocks.

The signs of slowing inflation for a second straight month also boosted bets the Bank of Japan will keep its ultra-low interest rates steady next week.

The benchmark Nikkei 225 Index closed the morning session at 36,375.56, up 412.29 points or 1.15 percent, after touching a 34-year high of 36,535.36 earlier. Japanese shares ended sharply higher on Friday.

Market heavyweight SoftBank Group is gaining more than 2 percent and Uniqlo operator Fast Retailing is adding more than 1 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is edging up 0.5 percent.

In the tech space, Screen Holdings is gaining almost 4 percent, Advantest is adding more than 4 percent and Tokyo Electron is up almost 2 percent.

In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are edging up 0.1 percent each, while Mizuho Financial is adding more than 1 percent.

The major exporters are mostly higher. Sony and Mitsubishi Electric are adding more than 1 percent each, while Canon is gaining almost 1 percent. Panasonic is edging down 0.4 percent.

Among other major gainers, M3 is surging more than 6 percent and Yamaha Motor is gaining almost 5 percent, while Mitsui Fudosan, Taiyo Yuden, Minebea Mitsumi and Sumitomo Realty & Development are adding almost 4 percent each. Lasertec, Ebara and Tokyu Fudosan are advancing more than 3 percent each, while Sumco, Sekisui House, Toppan Holdings and Murata Manufacturing are up almost 3 percent each.

Conversely, Kawasaki Kisen Kaisha is losing almost 3 percent.

In the currency market, the U.S. dollar is trading in the higher 147 yen-range on Monday.

Elsewhere in Asia, Hong Kong is down 2.0 percent, while China, Singapore and Indonesia are lower by between 0.1 and 0.9 percent each. New Zealand, South Korea, Malaysia and Taiwan are higher by between 0.1 and 0.5 percent each.

On Wall Street, stocks moved sharply higher over the course of the trading session on Friday, adding to the strong gains posted during Thursday's session. With the continued upward move, the Dow and the S&P 500 set new record closing highs, while the tech-heavy Nasdaq reached its best closing level in two years.

The major averages all close firmly in positive territory, with the Nasdaq posting a standout gain. The Nasdaq spiked 255.32 points or 1.7 percent to 15,310.97, the S&P 500 surged 58.87 points or 1.2 percent to 4,839.81 and the Dow jumped 395.19 points or 1.1 percent to 37,863.80.

Meanwhile, European stocks finished a choppy trading session little changed. While the U.K.'s FTSE 100 closed just above the unchanged line, the German DAX Index edged down by 0.1 percent and the French CAC 40 Index fell by 0.4 percent.

Crude oil prices turned lower on Friday, reflecting profit taking after recent gains while traders also weighed concerns about Middle East tensions against uncertainty about the outlook for global demand. West Texas Intermediate Crude for February delivery fell $0.67 or 0.9 percent to $73.41 a barrel. The more actively trade March contract slumped $0.70 or 1.0 percent to $73.25 a barrel.