Asian markets are mostly trading higher

(RTTNews) – Asian stock markets are mostly trading higher on Monday, after broadly positive signals from Wall Street on Friday, amid waning interest rate hike concerns as data from the US showed a slowdown in core US consumer price growth in Month. April. Technology stocks also led the way higher, mirroring their tech-heavy Nasdaq peers. Asian markets closed mostly higher on Friday.

The US data contributed to increasing optimism that the Federal Reserve will slow the pace of monetary tightening in the second half of the year. The inflation reading was included in a report that showed US personal income increased slightly less than expected in the month of April.

The Australian stock market rose significantly on Monday, extending gains in the previous two sessions, with the S&P/ASX 200 index moving above the 7200 level, following broadly positive signs from Wall Street on Friday, with gains in materials and energy stocks. Amid rising prices of metals and crude oil. Technology stocks are also strong, mirroring their high-tech Nasdaq peers.

The benchmark S&P/ASX 200 index rose 69.40 points, or 0.97 percent, to 7,252.10, after touching a high of 7,267.00 earlier. And the broader All Ordinaries index rose 74.00 points, or 1.00 percent, to 7,487.10 points. On Friday, the Australian share market closed significantly higher.

Among the major miners, BHP Group earns more than 2 percent. Mineral Resources and OZ Minerals add nearly 2 percent each, while Rio Tinto and Fortescue Metals are up more than 1 percent each.

Oil stocks vary. Santos is gaining nearly 1 percent while Origin Energy is up 0.5 percent, while Beach Energy is losing nearly 1 percent. Woodside Energy Flat.

Among technology stocks, Xero is gaining more than 3 percent, WiseTech Global is up 1.5 percent, Zip is adding more than 4 percent, and owner Afterpay Block is up 7.5 percent, while Appen is losing more than 3 percent.

Gold miners are mostly higher. Gold Road Resources is gaining more than 1 percent, Resolute Mining is adding 2.5 percent, Northern Star Resources is up 0.2 percent, Evolution Mining is losing nearly 1 percent, and Newcrest Mining is down 0.4 percent. .

Among the big four banks, Commonwealth Bank, Westpac, National Australia Bank and ANZ Banking rose 0.2 percent each.

In other news, shares in Bubs Australia surged more than 42 percent after the infant formula company struck a deal to send at least 1.25 million cans of infant formula to the United States to help alleviate shortages across the country.

In the currency market, the Australian dollar is trading at $0.717 on Monday. The Japanese stock market rose sharply on Monday, extending the gains in the previous session, with the Nikkei 225 index moving above the 27200 level, after broadly positive signals from Wall Street on Friday, with technology shares rising, reflecting their tech counterparts – heavy Nasdaq . Sluggish inflation data from the US also lifted sentiment. The benchmark Nikkei 225 index closed the morning session at 27,309.35, up 527.67 or 1.97 percent, after touching a high of 27,324.86 earlier. Japanese stocks closed significantly higher on Friday.

Market heavyweight SoftBank Group is up 0.3 per cent and Fast Retailing operator Uniqlo is adding more than 3 per cent. Among the automakers, Honda and Toyota earn nearly 1 percent each.

In technology, Advantest and Screen Holdings each gain more than 2 percent, while Tokyo Electron is up 0.4 percent. In the banking sector, Sumitomo Mitsui Financial rose 0.4 percent and Mizuho Financial increased nearly 1 percent, while Mitsubishi UFJ Financial declined 0.2 percent.

The share of the two major exporters is up, with Panasonic and Mitsubishi Electric adding nearly 2 percent each, while Sony is gaining nearly 4 percent and Canon is increasing by 0.4 percent. Among the other major gainers, Recruit Holdings and Daikin Industries rose more than 6 percent each, while Keyence, Omron and Yaskawa Electric gained more than 4 percent each. Japan Exchange Group, Showa Denko KK, Taiyo Yuden, Fanuc and CyberAgent rose nearly 4 percent each, while Kubota, Ebara and Denso added more than 3 percent each.

Conversely, Kawasaki Kisen Kaisha lost more than 4 percent, while Mitsui OSK Lines and Nippon Yusen KK were down 4 percent each.

In the currency market, the US dollar is trading in a range of 127 yen on Monday.

Elsewhere in Asia, Hong Kong’s growth rate is up by 2.2 percent, while growth in New Zealand, South Korea and Taiwan has fallen by between 1.0 and 1.5 percent each. China and Singapore rose 0.6 and 0.1 percent, respectively. Indonesia and Malaysia down 0.3 percent each.

On Wall Street, stocks rose sharply during trading on Friday, extending the strong upward movement seen on Tuesday and Wednesday. The major averages continued to recover after hitting their lowest levels in more than a year in recent sessions.

The major averages saw more upside as the close approached, ending the session at its best levels of the day. The Dow Jones rose 575.77 points, or 1.8 percent, to 33,212.96, the Nasdaq increased 390.48 points, or 3.3 percent, to 12,131.13, and the Standard & Poor’s 500 rose 100.40 points, or 2.5 percent, to 4158.24.

The major European markets also moved to the upside today. While the UK’s FTSE 100 rose 0.3 percent, Germany’s DAX and France’s CAC 40 both jumped 1.6 percent.

Crude oil prices rose on Friday amid rising hopes for increased fuel demand during the summer season, and a possible European Union embargo on Russian oil. West Texas Intermediate crude futures for July closed up $0.98, or 0.9 percent, at $115.07 a barrel.

The opinions and opinions expressed here are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.