Asian Markets Track Wall Street Higher
Asian stock markets are mostly higher on Friday, following the broadly positive cues from Wall Street overnight, on easing concerns over the outlook for interest rates after report showing initial jobless claims in the U.S. increased by much more than expected last week. The data seems to have added to optimism that the US Fed will pause its interest rate hikes. Asian markets ended mixed on Thursday.
The Australian stock market is modestly higher on Friday, recouping some of the losses in the previous three sessions, with the benchmark S&P/ASX 200 moving above the 7,100 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors, led by miners and financial stocks. Energy stocks were weak amid tumbling crude oil prices.
The benchmark S&P/ASX 200 Index is gaining 23.60 points or 0.33 percent to 7,123.30, after touching a high of 7,128.40 earlier. The broader All Ordinaries Index is up 23.60 points or 0.32 percent to 7,311.90. Australian markets ended modestly lower on Thursday.