Asian stock markets are trading mostly higher on Friday, influenced by the mixed signals from Wall Street overnight. Traders remain cautious as they await the much-anticipated monthly US jobs report due later today, which could provide further direction on the outlook for interest rates. Persistent concerns about growth prospects in the world's largest economy continue to weigh on market sentiment. Notably, Asian markets displayed mixed performance on Thursday.
Australia's stock market is seeing significant gains on Friday, building on the previous session's momentum despite mixed cues from Wall Street. The benchmark S&P/ASX 200 has surged past the 8,000 mark, buoyed by strong performances in gold miners and financial stocks, though gains are partially offset by declines in energy stocks. The S&P/ASX 200 Index has risen by 41.90 points, or 0.53%, reaching 8,024.30, after peaking at 8,027.50 earlier. Meanwhile, the broader All Ordinaries Index has increased by 38.60 points, or 0.47%, to 8,226.30. On Thursday, Australian markets closed with modest gains.
Among major miners, BHP Group and Rio Tinto are down by 0.1% each, while Mineral Resources and Fortescue Metals have seen slight increases of 0.1% to 0.5%.
Oil stocks are predominantly lower. Woodside Energy has decreased by more than 1%, Santos is down by 0.3%, and Beach Energy has lost nearly 2%, while Origin Energy has gained more than 1%.
In the technology sector, Block (owner of Afterpay) has edged up by 0.3%, and Zip has gained almost 1%, while WiseTech Global is slightly down by 0.1%, Xero has decreased by nearly 1%, and Appen has declined by almost 2%.
Among the major banks, Commonwealth Bank, ANZ Banking, and Westpac have each gained nearly 1%, while National Australia Bank has seen a slight increase of 0.4%. Gold miners are mostly on the rise; Evolution Mining and Northern Star Resources have both gained nearly 1%, Newmont and Gold Road Resources have edged up by 0.3% each, and Resolute Mining has increased by more than 1%.
The Australian dollar is trading at $0.673 on Friday.
In Japan, the stock market is slightly lower in choppy trading on Friday, extending losses from the previous three sessions despite opening in the green, following mixed signals from Wall Street. The benchmark Nikkei 225 has fallen below the 36,600 level, with gains in some major stocks offset by weaknesses in exporters, financials, and technology sectors. The Nikkei 225 Index ended the morning session at 36,568.05, down 89.04 points, or 0.24%, after hitting a low of 36,480.64 and a high of 36,898.28 earlier. Japanese stocks had closed significantly lower on Thursday.
SoftBank Group has decreased by nearly 1%, while Uniqlo operator Fast Retailing has gained almost 2%. Among automakers, Honda is down 0.3%, and Toyota has lost over 2%.
In the technology sector, Advantest and Screen Holdings have both declined by over 2%, while Tokyo Electron has fallen by 2.5%.
In banking, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial have both edged down by 0.3%, while Mizuho Financial has lost almost 2%.
Major exporters like Mitsubishi Electric have lost almost 2%, Sony has declined by nearly 3%, Canon is down by nearly 1%, and Panasonic has slipped by more than 1%.
Significant gainers include M3, which has surged by almost 7%, Shiseido, up by over 5%, Aeon, adding more than 4%, and Konami Group, advancing more than 3%. Meanwhile, Meiji Holdings and Sekisui House have each increased by nearly 3%.
Conversely, Rakuten Group and Daikin Industries have both declined by over 4%, while SMC and Keyence have lost almost 4% each. Kawasaki Heavy Industries, Hitachi Zosen, Hitachi, Mercari, and Mitsubishi Heavy Industries have each declined by more than 3%, and Disco, Mazda Motor, JFE Holdings, Nippon Steel, and Furukawa Electric are all down by nearly 3%.
In economic news, Japan's household spending in July fell by a seasonally adjusted 1.7% month-on-month to 290,931 yen, according to the Ministry of Internal Affairs and Communications. This figure missed the forecasted decline of 0.2%, following a 0.1% increase in June. On a yearly basis, household spending increased by 0.1%, which was below the expected 1.2% rise after a 1.4% contraction in the previous month. The average monthly household income was 694,483 yen, up 5.5% year-on-year.
The US dollar is trading in the lower 143 yen range on Friday.
Elsewhere in Asia, Taiwan is up 1.3%, while China, Hong Kong, Singapore, and Indonesia are up between 0.2% and 0.7%. In contrast, New Zealand, South Korea, and Malaysia are down by between 0.3% and 0.7%.On Wall Street, stocks demonstrated a mixed performance again on Thursday, following a lackluster session the previous day that also ended with a narrow mix. The S&P 500 closed lower for the third consecutive session, while the tech-centric Nasdaq finished the day in positive territory.
The Nasdaq fluctuated around the breakeven point before ultimately closing with a gain of 43.37 points or 0.3%, reaching 17,127.66. Conversely, the S&P 500 dropped 16.66 points or 0.3% to settle at 5,503.41, and the Dow Jones Industrial Average declined by 219.22 points or 0.5%, ending at 40,755.75.
In European markets, all the major indices moved lower on the day. The French CAC 40 Index fell by 0.9%, the U.K.'s FTSE 100 Index decreased by 0.3%, and the German DAX Index dipped by 0.1%.
Crude oil prices also closed lower on Thursday due to concerns regarding future demand, though the decline was tempered by reports that OPEC has delayed its plans to increase production next month. Specifically, West Texas Intermediate Crude oil futures for October dropped by $0.05 to settle at $69.15 per barrel, marking the lowest close in approximately nine months.
