CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Friday, following the mixed cues from Wall Street overnight, as hotter-than expected US producer price inflation data and a resilient US labor market softened expectations of a higher half point interest rate cut by the US Fed in September. Traders also remain cautious ahead of the crucial U.S.-Russia talks to end the ongoing three-plus-year Russia-Ukraine war. Asian markets ended mostly lower on Thursday.
The hotter-than-expected US producer price inflation data partly offset optimism about a September interest rate cut generated by the US consumer price inflation data released earlier this week.
However, CME Group's FedWatch Tool is currently still indicating a 92.6 percent chance the Fed will lower rates by a quarter point next month
The Australian stock market is trading modestly higher on Friday, extending the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,900 level, with gains across most sectors led by energy and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 24.00 points or 0.27 percent to 8,897.80, after touching a high of 8,904.90 earlier. The broader All Ordinaries Index is up 23.90 points or 0.26 percent to 9,173.00. Australian stocks closed notably higher on Thursday.
Among major miners, BHP Group and Rio Tinto are edging up 0.4 to 0.5 percent each, while Fortescue is gaining 1.5 percent and Mineral Resources is adding more than 1 percent.
Oil stocks are mostly higher. Santos is adding almost 1 percent, Beach energy is gaining more than 1 percent, Origin Energy is advancing almost 2 percent and Woodside Energy is edging up 0.4 percent.
Among tech stocks, Afterpay-owner Block, WiseTech Global and Xero are edging up 0.2 to 0.5 percent each, while Appen is gaining almost 2 percent. Zip is losing almost 1 percent.
Among the big four banks, Westpac is adding more than 1 percent, while National Australia Bank and ANZ Banking are gaining almost 1 percent each. Commonwealth Bank is edging down 0.2 percent.
Gold miners are mostly higher. Evolution Mining and Gold Road Resources are edging down 0.1 to 0.5 percent each, while Northern Star Resources is losing almost 1 percent. Newmont is edging up 0.4 percent and Resolute Mining is gaining more than 1 percent.
In other news, shares in Ampol are jumping almost 7 percent after it announced a $1.1 billion deal to acquire EG Australia that will add about 500 company-owned and operated (COCO) service stations to Ampol's network.
Shares in Baby Bunting are skyrocketing more than 28 percent after its annual profit guidance for this fiscal year came in 12 percent ahead of analyst expectations.
In the currency market, the Aussie dollar is trading at $0.649 on Friday.
Reversing the losses in the previous session, the Japanese market is significantly higher on Friday, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 43,000 mark, amid stronger than expected domestic GDP data, with gains in index heavyweights and financial stocks as well as a mixed performance in all other sectors.
The benchmark Nikkei 225 Index closed the morning session at 43,036.46, up 387.20 points or 0.91 percent, after touching a high of 42,046.55 earlier. Japanese shares ended sharply lower on Thursday.
Market heavyweight SoftBank Group is gaining almost 2 percent and Uniqlo operator Fast Retailing is adding more than 1 percent. Among automakers, Toyota is gaining more than 1 percent and Honda is adding almost 1 percent.
In the tech space, Tokyo Electron is edging up 0.5 percent, while Advantest is losing almost 1 percent and Screen Holdings is declining almost 4 percent.
In the banking sector, Sumitomo Mitsui Financial and Mizuho Financial are gaining 3.5 percent each, while Mitsubishi UFJ Financial is surging almost 5 percent.
Among the major exporters, Canon and Panasonic are edging down 0.2 to 0.3 percent each, while Mitsubishi Electric is losing almost 1 percent. Sony is gaining almost 3 percent.
Among other major gainers, Ebara is jumping almost 9 percent, Lasertec is soaring more than 6 percent and Japan Exchange Group is surging almost 5 percent, while Mitsui Mining & Smelting and Tokai Carbon are gaining more than 5 percent each. Resona Holdings and Concordia Financial are adding almost 5 percent each, while Dai-ichi Life is up almost 4 percent each. Tokio Marine, Sumitomo Mitsui Trust and Kansai Electric Power are advancing more than 3 percent each.
Conversely, Dentsu Group is plummeting more than 12 percent, Credit Saison is tumbling more than 10 percent and Tosoh is declining more than 3 percent.
In economic news, Japan's gross domestic product expanded a seasonally adjusted 0.3 percent on quarter in the second quarter of 2025, the Cabinet Office said in Friday's preliminary report. That beat forecasts for an increase of 0.1 percent following the upwardly revised 0.1 percent gain in the previous three months (originally flat).
On an annualized basis, GDP was up 1.0 percent - again topping forecasts for a gain of 0.4 percent and up from the upwardly revised 0.6 percent increase in the three months prior (originally -0.2 percent)
Capex was up 1.3 percent on quarter, beating forecasts for 0.5 percent and up from 1.0 percent in Q1. External demand rose 0.3 percent on quarter, while the GDP price index was up 3.0 percent on year and private consumption added 0.2 percent on quarter.
In the currency market, the U.S. dollar is trading in the lower 147 yen-range on Friday.
Elsewhere in Asia, Hong Kong, Singapore, Malaysia and Taiwan are lower by between 0.1 and 0.9 percent, while New Zealand, China, South Korea and Indonesia are higher by between 0.1 and 0.3 percent.
On Wall Street, stocks showed a lack of direction over the course of the trading session on Thursday after recovering from an early move to the downside. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing narrowly mixed.
While the S&P 500 crept up 1.96 points or less than a tenth of a percent to a new record closing high of 6,468.54, the Nasdaq edged down 2.47 points or less than a tenth of a percent to 21,710.67 and the Dow slipped 11.01 points or less than a tenth of a percent to 44,911.26.
Meanwhile, the major European markets moved to the upside on the day. While the U.K.'s FTSE 100 Index inched up by 0.1 percent, the French CAC 40 Index and the German DAX Index both advance by 0.8 percent.
Crude oil prices jumped on Thursday ahead of a crucial meeting between the U.S. and Russian President's later today in Alaska to discuss ways to end the Russia-Ukraine war. West Texas Intermediate crude for September delivery was up $1.32 or 2.11 percent at $63.97 per barrel.
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