Asian Markets Mixed Amid Low Holiday Trade

Asian stock markets are trading mixed on Friday, following the slightly positive cues from Wall Street overnight, with most markets in the region are fully or partially closed for Lunar New Year holidays. Japan’s Nikkei is trading at fresh 34-year highs. However, uncertainty about the outlook for interest-rate trajectory continues to weigh on the markets. Asian markets ended mixed on Thursday.

Traders noted comments from Boston Fed President Susan Collins that rate cuts could come later this year. She said she will need to see more evidence of inflation moving towards the 2% target before considering adjusting the policy rate.

Adding to the gains in the previous two sessions, the Australian stock market is slightly higher in choppy trading on Friday, following the marginally positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 7,600 level, with gains in technology stocks partially offset by weakness in uranium and gold mining stocks.

The benchmark S&P/ASX 200 Index is gaining 10.30 points or 0.14 percent to 7,649.50, after hitting a low of 7,628.50 and a high of 7,655.90 earlier. The broader All Ordinaries Index is up 13.00 points or 0.17 percent to 7,888.20. Australian markets ended modestly on Thursday.

Among major miners, Rio Tinto and Fortescue Metals are edging up 0.3 to 0.4 percent each, while Mineral Resources is gaining almost 1 percent. BHP Group is edging down 0.4 percent.

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

Among tech stocks, WiseTech Global is edging up 0.2 percent, Zip is adding more than 1 percent, Afterpay owner Block is advancing almost 2 percent and Xero is up almost 1 percent. Appen is flat.

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