Asian Markets Mostly Higher

Defying the sell-off in the global markets, Asian stock markets are trading mostly higher on Friday, as traders react to easing geopolitical tensions in the Middle East after Israel heeded to US’ request to delay its Gaza invasion. The upside has been limited due to the stronger than expected US GDP data that raised concerns the US Fed will leave interest rates higher for longer than expected. Asian markets ended mostly lower on Thursday.

Snapping a two-session losing streak, the Australian stock market is modestly higher on Friday, despite the broadly negative cues from global markets overnight. The benchmark S&P/ASX 200 is staying above the 6,800 level, aided by gains in technology and financial stocks.

The benchmark S&P/ASX 200 Index is gaining 31.80 points or 0.47 percent to 6,844.10, after touching a high of 6,845.70 earlier. The broader All Ordinaries Index is up 28.30 points or 0.40 percent to 7,029.40. Australian markets ended notably lower on Thursday.

Among major miners, Mineral Resources is gaining more than 1 percent, while Rio Tinto and Fortescue Metals are edging down 0.4 to 0.5 percent each. BHP Group is flat.

Oil stocks are mixed. Santos and Origin Energy are edging down 0.1 to 0.2 percent each, while Beach energy is gaining almost 1 percent. Woodside Energy is flat.

Among tech stocks, Afterpay owner Block is gaining more than 2 percent, WiseTech Global is edging up 0.1 percent, Zip is adding almost 1 percent and Appen is up more than 1 percent, while Xero is losing almost 1 percent.

Among the big four banks, Commonwealth Bank and National Australia Bank are gaining more than 1 percent each, while ANZ Banking and Westpac are adding almost 1 percent each.

Gold miners are mixed. Northern Star Resources and Newcrest Mining are losing more than 1 percent each, while Evolution Mining is edging down 0.4 percent. Gold Road Resources is gaining more than 2 percent and Resolute Mining is adding more than 1 percent.

In the currency market, the Aussie dollar is…