CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, amid easing geopolitical concerns about a confrontation between the U.S. and Iran. Technology stocks also aid in the surge on revived AI-driven growth optimism. Asian markets ended mixed on Thursday.
A report showing first-time claims for U.S. unemployment benefits unexpectedly dipped in the week ended January 10, partly offsetting concerns about the strength of the labor market.
The Australian stock market is trading modestly higher on Friday, extending the gains in the previous four sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving to near the 8,900 level, with gains in financial stocks and technology stocks partially offset by weakness in gold miners and energy stocks.
The benchmark S&P/ASX 200 Index is gaining 30.50 points or 0.34 percent to 8,892.20, after hitting a low of 8,855.60 earlier. The broader All Ordinaries Index is up 32.10 points or 0.35 percent to 9,216.30. Australian stocks closed notably higher on Thursday.
Among major miners, Fortescue and Rio Tinto are gaining almost 1 percent each, while BHP Group and Mineral Resources are losing almost 1 percent each. BHP Group and Rio Tinto agreed to jointly develop up to 200 million tonnes of iron ore in Western Australia's Pilbara region.
Oil stocks are weak. Santos is slipping almost 1 percent, Woodside Energy is down more than 1 percent, Origin Energy is edging down 0.4 percent and Beach energy is declining almost 2 percent.
Among tech stocks, Afterpay-owner Block is losing almost 1 percent, while WiseTech Global is gaining almost 1 percent, Zip is edging up 0.5 percent and Xero is adding more than 1 percent. Appen is surging more than 10 percent after it reported that 4 million performance rights lapsed on December 31, 2025.
Among the big four banks, Commonwealth Bank is gaining almost 1 percent and Westpac is adding more than 1 percent, while ANZ Banking and National Australia Bank are edging up 0.1 to 0.4 percent each.
Gold miners are mostly lower. Evolution Mining and Genesis Minerals are losing almost 1 percent each, while Resolute Mining is slipping almost 2 percent and Northern Star Resources is declining almost 2 percent. Newmont is gaining more than 1 percent.
In the currency market, the Aussie dollar is trading at $0.670 on Friday.
The Japanese market is trading notably lower on Friday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling well below the 50,800 level, with weakness in exporters and financial stocks.
The benchmark Nikkei 225 Index closed the morning session at 53,874.59, down 235.91 points or 0.44 percent, after hitting a low of 53,706.79 earlier. Japanese shares ended modestly lower on Thursday.
Market heavyweight SoftBank Group is gaining more than 1 percent, while Uniqlo operator Fast Retailing is down more than 1 percent. Among automakers, Toyota is edging down 0.4 percent and Honda is declining more than 1 percent.
In the tech space, Advantest is losing almost 1 percent and Tokyo Electron is declining almost 2 percent, while Screen Holdings is gaining almost 2 percent.
In the banking sector, Sumitomo Mitsui Financial is edging down 0.2 percent, while Mizuho Financial is gaining more than 1 percent and Mitsubishi UFJ Financial is edging up 0.1 percent.
Among the major exporters, Sony is declining almost 2 percent, Canon is losing more than 1 percent and Mitsubishi Electric is edging down 0.3 percent, while Panasonic is gaining almost 2 percent.
Among other major losers, BayCurrent is tumbling almost 8 percent and JGC Holdings is slipping almost 5 percent, while Aeon and Rakuten Group are declining more than 4 percent each. SHIFT, Ryohin Keikaku, Chugai Pharmaceutical and Mitsui O.S.K. Lines are losing almost 4 percent each, while Shionogi & Co., Kawasaki Kisen Kaisha, M3 and Tokyo Electric Power are down almost 3 percent each. Sumitomo Pharma, East Japan Railway and Nippon Yusen K.K. are losing almost 3 percent each.
Conversely, Komatsu and Isetan Mitsukoshi are gaining more than 4 percent each, while SMC and Lasertec are adding almost 3 percent each.
In the currency market, the U.S. dollar is trading in the lower 158 yen-range on Friday.
Elsewhere in Asia, South Korea and Taiwan are up 1.0 and 1.5 percent, respectively, while New Zealand, China, Hong Kong and Singapore are higher by between 0.1 and 0.5 percent each. Malaysia is bucking the trend and is down 0.2 percent. Indonesia is closed for the Ascension of Prophet Muhammad.
On Wall Street, stocks gave back some ground in the latter part of the trading day on Thursday but managed to remain mostly higher, after turning in a strong performance for much of the session. The major averages all ended the day in positive territory, regaining some ground following the pullback seen over the two previous sessions.
The Dow advanced 292.81 points or 0.6 percent to 49,442.44, the Nasdaq climbed 58.27 points or 0.3 percent to 23,530.02 and the S&P 500 rose 17.87 points or 0.3 percent to 6,944.47.
Meanwhile, the major European markets closed mixed on the day. While the French CAC 40 Index slipped by 0.2 percent, the German DAX Index rose by 0.3 percent and the U.K.'s FTSE 100 Index climbed by 0.5 percent.
Crude oil prices plummeted on Thursday as the potential for a U.S.-Iran confrontation diminished for the time being. West Texas Intermediate crude for February delivery was down $2.83 or 4.56 percent at $59.19 per barrel.
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