CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, boosted by the surge in semiconductor and AI stocks amid reports that the $28 billion SK Hynix IPO in the U.S. was heavily oversubscribed. Speculation that the escalation of hostilities between the U.S. and Iran will be limited is also aiding market sentiment. Asian markets ended mixed on Thursday.
Traders remain optimistic that a full-blown war can be avoided in the Middle East after US President Donald Trump claimed that Iran wants to 'make a deal so badly,' although that is in line with his typical rhetoric. He added that he doesn't know if they're worthy of making a deal.
While Trump's position indicated an uncertainty on how he plans to resolve the crisis, experts are of the view that diplomatic measures would be given full chance.
The Australian stock market is trading notably higher on Friday, snapping a four-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,800 level, with gains in financial, mining and technology stocks partially offset weakness in energy stocks.
The benchmark S&P/ASX 200 Index is gaining 54.60 points or 0.62 percent to the day's high of 8,817.10, after hitting a low of 8,748.60 earlier. The broader All Ordinaries Index is up 53.80 points or 0.60 percent to 9,015.10. Australian stocks closed modestly lower on Thursday.
Among major miners, Rio Tinto is advancing more than 2 percent, Fortescue is adding almost 1 percent and BHP Group is gaining more than 1 percent, while Mineral Resources is edging down 0.2 percent.
Oil stocks are mostly lower. Beach energy is losing almost 1 percent, while Origin Energy, Woodside Energy and Santos are declining more than 1 percent each.
Among tech stocks, Afterpay and Square-owner Block and Xero are edging up 0.3 percent each, while Zip and Appen are gaining almost 1 percent each. WiseTech Global is edging down 0.5 percent.
Among the big four banks, Commonwealth Bank, Westpac, ANZ Banking and National Australia Bank are edging up 0.1 to 0.2 percent each.
Gold miners are mostly higher. Northern Star Resources, Genesis Minerals and Newmont are gaining more than 1 percent each, while Evolution Mining is adding almost 3 percent and Resolute Mining is advancing more than 3 percent.
In other news, shares in Bravura Solutions are soaring more than 14 percent after it upgraded its 2026 fiscal year earnings guidance.
Shares in uranium miner Boss Energy are surging more than 5 percent on reports that the Australian Government could sign an agreement with India this week that delivers on a nuclear co-operation plan between the two countries. Australia would end up exporting uranium directly to India.
In the currency market, the Aussie dollar is trading at $0.696 on Friday.
The Japanese market is trading sharply higher on Friday, extending the sharp gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving up to near the 69,200 level, with gains in automakers and technology stocks.
The benchmark Nikkei 225 Index closed the morning session at 68,943.76, up 1,199.91 points or 1.77 percent, after touching a high of 69,374.86 earlier. Japanese shares ended sharply higher on Thursday.
Market heavyweight SoftBank Group is jumping more than 10 percent, while Uniqlo operator Fast Retailing is losing almost 5 percent. Among automakers, Toyota is edging up 0.2 percent and Honda is also edging up 0.1 percent.
In the tech space, Advantest is advancing more than 4 percent, Screen Holdings is adding almost 3 percent and Tokyo Electron is gaining more than 3 percent.
In the banking sector, Sumitomo Mitsui Financial is edging down 0.5 percent, while Mizuho Financial and Mitsubishi UFJ Financial are edging up 0.1 to 0.5 percent each.
Among the major exporters, Panasonic is gaining almost 2 percent, while Mitsubishi Electric and Canon are edging up 0.3 to 0.5 percent each. Sony is losing almost 2 percent.
Among other major gainers, Sumco is skyrocketing more than 15 percent, Socionext is jumping more than 10 percent, Fujikura is soaring more than 9 percent and Sumitomo Electric Industries is surging more than 8 percent, while Kioxia Holdings and Furukawa Electric are advancing almost 8 percent each. Mitsui Kinzoku is rising almost 7 percent, while Ibiden and Murata Manufacturing are gaining more than 5 percent each. Fanuc, Yaskawa Electric, Nikon and OKUMA are adding almost 5 percent each.
Conversely, Sapporo Holdings is declining more than 4 percent, while Tokio Marine, Seven & I Holdings, Kirin Holdings and Kao are losing almost 3 percent each.
In economic news, Japan's producer prices rose 7.1 percent on year in June 2026, accelerating from an upwardly revised 6.6 percent increase in the previous month and exceeding market expectations of a 6.8 percent gain. It marked the fastest annual increase since March 2023.
On a monthly basis, producer prices grew 0.4 percent, easing from an upwardly revised 1.1 percent gain in May and marking the slowest monthly growth in four months.
In the currency market, the U.S. dollar is trading in the lower 161 yen-range on Friday.
Elsewhere in Asia, South Korea and Hong Kong are surging 3.4 and 1.2 percent, respectively. China, Singapore, Malaysia and Indonesia are higher by between 0.4 and 0.9 percent each. Taiwan is bucking the trend and is down 0.8 percent. New Zealand is closed for Mtariki Day.
On Wall Street, stocks moved mostly higher over the course of the trading day on Thursday after seeing considerable volatility early in the session. The major averages all moved to the upside after yesterday's mixed performance, with the Nasdaq leading the charge.
The Nasdaq ended the day just off its high of the session, jumping 336.24 points or 1.3 percent to 26,206.89. The S&P 500 also advanced 60.93 points or 0.8 percent to 7,543.64, while the narrower Dow rose 139.02 points or 0.3 percent to 52,487.41.
Meanwhile, the major European markets were mixed on the day. The German DAX Index and the French CAC 40 Index both advanced by 0.9 percent, although the U.K.'s FTSE 100 Index bucked the uptrend and dipped by 0.2 percent.
Crude oil prices tumbled on Thursday following reports that Iran is seeking a deal with the U.S., raising expectations of an end to the ongoing standoff. West Texas Intermediate crude for August delivery was down $1.52 or 2.07 percent at $72.00 per barrel.
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