CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Monday, following the broadly negative cues from Wall Street on Friday, amid weakness in technology stock which mirrored their peers on tech-heavy Nasdaq on renewed concerns about the AI trade. Markets also keep an eye on the ongoing discussions between Qatari mediators and Iranian officials to end hostilities in the Middle East which could ease supply concerns. Asian markets closed mixed on Friday.
The Australian stock market is notably lower on Monday, reversing some of the gains in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,850.00 level, with weakness in gold mining and financial stocks partially offset by gains in energy stocks.
The benchmark S&P/ASX 200 Index is losing 56.60 points or 0.64 percent to 8,851.50, after hitting a low of 8,851.10 earlier. The broader All Ordinaries Index is down 56.60 points or 0.63 percent to 8,968.80. Australian stocks closed modestly higher on Friday.
Among the major miners, BHP Group and Rio Tinto are losing more than 1 percent each, while Mineral Resources is gaining almost 1 percent and Fortescue is edging up 0.3 percent.
Oil stocks are mostly higher. Woodside Energy, Beach energy and Santos are gaining almost 1 percent each, while Origin Energy is edging up 0.2 percent.
Among tech stocks, Afterpay owner Block is gaining almost 1 percent, Zip is up almost 1 percent and Appen is surging more than 8 percent, while WiseTech Global is losing more than 2 percent and Xero is declining almost 3 percent.
Gold miners are mostly lower. Genesis Minerals is down almost 4 percent, Evolution Mining is losing more than 1 percent and Northern Star Resources is declining almost 4 percent, while Resolute Mining and Newmont are slipping almost 3 percent each.
Among the big four banks, Commonwealth Bank and National Australia Bank are losing almost 1 percent each, while ANZ Banking and Westpac are edging down 0.2 to 0.3 percent each.
In other news, shares in KMD Brands are surging more than 8 percent after the Kathmandu owner confirmed an exclusivity agreement with US-based brand management and investment firm Bluestar Alliance regarding a potential buyout transaction.
In economic news, the manufacturing sector in Australia continued to contract in October, and at a steady pace, the latest survey from S&P Global revealed on Monday with a Performance of Manufacturing Index score of 49.6. That was unchanged from the September reading, and it remained beneath the boom-or-bust line of 50 that separates expansion from contraction.
Australia's Melbourne Institute Monthly Inflation Gauge rose 0.5 percent on month in October 2026, up from a 0.3 percent increase in the previous month and marking a fourth straight monthly gain. Annual headline inflation accelerated to a six-month high of 4.3 percent in September, remaining well above the RBA's 2 to 3 percent target range.
Meanwhile, the total number of building permits issued in Australia was up a seasonally adjusted 5.1 percent on month in September, the Australian Bureau of Statistics said on Monday - coming in at 17,948. That beat forecasts for an increase of 1.8 percent following the upwardly revised 5.2 percent contraction in August (originally -6.1 percent). Total building approvals were down 0.8 percent on year.
In the currency market, the Aussie dollar is trading at $0.702 on Monday.
The Japanese stock market is slightly lower on Monday, extending the losses in the previous session, following the broadly negative cues from Wall Street on Friday. The Nikkei 225 is falling below the 63,250 level, with weakness in automakers and financial stocks partially offset by gains in exporter stocks.
The benchmark Nikkei 225 Index closed the morning session at 63,095.11, down 195.00 points or 0.31 percent, after hitting a low of 62,712.91 earlier. Japanese shares ended sharply lower on Friday.
Market heavyweight SoftBank Group is declining almost 2 percent, while Uniqlo operator Fast Retailing is advancing more than 2 percent. Among automakers, Honda is edging down 0.3 percent and Toyota is losing almost 1 percent.
In the tech space, Advantest is gaining more than 1 percent and Tokyo Electron is jumping more than 6 percent, while Screen Holdings is plunging more than 17 percent following downbeat financial results for the second quarter and full-year guidance.
In the banking sector, Sumitomo Mitsui Financial is declining almost 2 percent, while Mizuho Financial and Mitsubishi UFJ Financial are losing more than 1 percent each.
The major exporters are mostly higher. Mitsubishi Electric is advancing almost 4 percent, Panasonic is surging more than 5 percent and Sony is edging up 0.5 percent, while Canon is losing almost 1 percent.
Among the other major losers, Kioxia Holdings is plunging more than 13 percent, Alps Alpine is tumbling more than 10 percent, Ibiden is sliding more than 6 percent and Sumitomo Electric Industries is slipping more than 5 percent, while NTN, Taiyo Yuden and TDK are declining almost 5 percent each. Hoya is losing more than 4 percent and Rakuten Group is down almost 4 percent, while Sumco and Seiko Epson are declining more than 3 percent each.
Conversely, NGK and Sapporo Holdings are soaring more than 7 percent each, while Sumitomo Pharma is jumping more than 6 percent and Nippon Electric Glass is surging almost 5 percent, while East Japan Railway, Daiichi Sankyo and Mitsubishi Electric are gaining almost 3 percent each.
In economic news, the manufacturing sector in Japan continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a Performance of Manufacturing Index score of 53.3. That was down from 54.1 in September although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
In the currency market, the U.S. dollar is trading in the higher 157 yen-range on Monday.
Elsewhere in Asia, South Korea is up 1.1 percent, while China and Hong Kong are up 0.2 percent each. New Zealand, Singapore, Taiwan and Indonesia are lower by between 0.5 and 1.3 percent each. Malaysia is relatively flat.
On Wall Street, stocks saw even further downside over the course of the trading day on Friday after moving sharply lower early in the session. The major averages all moved notably lower, with the tech-heavy Nasdaq once again posting a particularly steep loss.
The major regained some ground going into the end of the day but remained sharply lower. The Nasdaq plunged 747.73 points or 2.9 percent to 25,437.00, the S&P 500 tumbled 140.32 points or 1.8 percent to 7,580.07 and the Dow slumped 572.25 points or 1.1 percent to 51,770.31.
Meanwhile, the major European markets ended the day mixed. While the U.K.'s FTSE 100 Index crept up by 0.1 percent, the French CAC 40 Index closed just below the unchanged line and the German DAX Index slid by 0.9 percent.
Crude oil prices spiked on Friday on increased supply disruption concerns, with media reports suggesting renewed U.S. military action against Iran this week. West Texas Intermediate crude Oil for December delivery was up $2.39 or 2.34 percent at $104.39 per barrel.
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