Asian Markets Trade Mixed

Following the lack of cues from Wall Street and positive cues from European markets overnight, Asian stock markets turned in a mixed performance in lackluster trade on Friday, as traders remained reluctant to make significant moves. The markets reacted primarily to domestic economic data from Japan. Asian markets ended mostly higher on Thursday.

Recouping some of the losses in the previous two sessions, the Australian stock market is modestly higher on Friday, following the lack of cues from Wall Street and positive cues from European markets overnight. The benchmark S&P/ASX 200 is staying above the 7,000 mark, with gains in iron ore miners, energy and financial stocks.

The benchmark S&P/ASX 200 Index is gaining 24.90 points or 0.35 percent to 7,054.10, after touching a high of 7,064.80 earlier. The broader All Ordinaries Index is up 23.20 points or 0.32 percent to 7,257.40. Australian markets ended notably lower on Thursday.

Among major miners, BHP Group is edging up 0.5 percent, while Rio Tinto, Fortescue Metals and Mineral Resources are gaining more than 1 percent each.

Oil stocks are mostly higher. Santos and Woodside Energy are gaining more than 1 percent each, while Origin Energy is adding almost 3 percent and Beach energy is edging up 0.1 percent.

Among tech stocks, Afterpay owner Block is edging down 0.1 percent and WiseTech Global is losing almost 4 percent, while Xero is gaining almost 1 percent, Appen is adding almost 3 percent and Zip is edging up 0.5 percent.

Among the big four banks, Commonwealth Bank is gaining almost 1 percent, while National Australia Bank, ANZ Banking and Westpac are edging up 0.1 to 0.5 percent each.

Gold miners are mostly lower. Northern Star Resources is edging down 0.3 percent, Evolution Mining is losing more than 1 percent and Gold Road Resources is down almost 1 percent, while Resolute Mining is gaining more than 1 percent and Newmont is adding almost 1 percent.

In the currency market, the Aussie dollar is trading at $0.656 on Friday.

Extending the gains in the previous session, the Japanese stock market is significantly higher in post-holiday trade on Friday, following the lack of cues from Wall Street and positive cues from European markets overnight. The benchmark Nikkei 225 is moving above the 33,700 level to near 33-year highs, as traders reacted to key domestic economic data, with gains across most sectors, led by index heavyweights and exporters.

The benchmark Nikkei 225 Index closed the morning session at 33,715.55, up 263.72 points or 0.79 percent, after touching a high of 33,817.86 earlier. Japanese stocks closed modestly higher on Wednesday ahead of the holiday on Thursday.

Market heavyweight SoftBank Group is gaining almost 2 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is adding almost 3 percent.

In the tech space, Advantest is edging up 0.5 percent, Tokyo Electron is adding almost 2 percent and Screen Holdings is surging almost 6 percent.

In the banking sector, Mitsubishi UFJ Financial is edging down 0.3 percent, while Mizuho Financial and Sumitomo Mitsui Financial are losing almost 1 percent each.

Among major exporters, Sony and Panasonic are losing more than 1 percent each, while Mitsubishi Electric is gaining more than 2 percent and Canon is adding almost 1 percent.

Among other major gainers, Resonac Holdings is surging more than 6 percent, Mitsubishi Heavy Industries is gaining almost 6 percent, CyberAgent is adding almost 5 percent and Renesas Electronics is up more than 4 percent, while Kawasaki Heavy Industries, Mazda Motor, Kyocera and TDK are advancing almost 4 percent each. IHI, Recruit Holdings, Chugai Pharmaceutical and Terumo are rising more than 3 percent each, while Taiyo Yuden and Isuzu Motors are up almost 3 percent each.

Conversely, Nippon Paper Industries and Daikin Industries are losing almost 3 percent each.

In the currency market, the U.S. dollar is trading in the mid-149 yen-range on Friday.

Elsewhere in Asia, Hong Kong is down 1.5 percent, while China, Singapore and South Korea are gaining 0.3 percent each. New Zealand, Malaysia, Indonesia and Taiwan are higher by between 0.1 and 0.4 percent each.

The Wall Street was closed on account of Thanksgiving holiday on Thursday. The shares closed notably higher on Wednesday.

The major European markets moved to the upside on the day. The U.K.’s FTSE 100 climbed 0.19%, while Germany’s DAX and France’s CAC 40 gained 0.23% and 0.24%, respectively.

Crude oil prices extend losses from the previous session on Thursday on signs of increasing U.S. inventories and amid disappointment over postponement of the OPEC+ ministerial meeting. West Texas Intermediate crude oil futures for January were down 1.5 percent at $75.97 a barrel.