Asian stock markets are trading in positive territory on Friday with investors taking fresh positions after the previous session's setback. Bargain hunting and short-covering appear to be aiding the surge in some of the markets in the region. The overall mood, however, remains somewhat cautious due to a lack of prominent triggers.
The Australian market is trading higher with investors picking up stocks after the previous session's weakness.
Property trusts and energy stocks are trading higher. Financial and industrial stocks too are finding some support, while mining, healthcare and consumer staples stocks are mostly trading flat.
The benchmark S&P/ASX 200 index, which advanced to around 4,418.4, is currently trading at 4,412, up 14.8 points or 0.3 percent from its previous close. The broader All Ordinaries index is up 15 points or 0.3 percent at 4,434.8, off the day's high of 4,440.6.
Top miners BHP Billiton (BHP,BBL) and Rio Tinto (RIO,RIO.L) are up 0.3 percent and 0.6 percent, respectively.
Among bank stocks, ANZ Bank (ANZ), Commonwealth Bank of Australia and National Australia Bank are up with modest gains, while Westpac (WBK) is gaining nearly a percent.
ALS, Graincorp, James Hardie Industries, Downer EDI, Monadelphous Group and Woodside Petroleum are up 1.5 to 2 percent.
Fortescue Metals, Dexus Property Group, Seek, Westfield Retail Trust, Boral, Origin Energy, Arrium and Commonwealth Property Office Fund are trading higher by 1.2 to 1.4 percent.
Meanwhile, Newcrest Mining, Whitehaven Coal, Primary Healthcare, Caltex Australia, JB Hi-Fi and Oil Search are trading weak, losing 1.4 to 2.4 percent.
Shares of retail brand owner Premier Investments Ltd are up more than 9 percent following the company reporting a 68 percent jump in earnings and strong sales for the year. The company made a net profit of A$68.2 million in the year to July 28, up from A$40.5 million in the previous year.
In the currency market, the Australian dollar opened higher against the U.S. dollar. In early trades, the Aussie was quoting at US$1.0436, up from Thursday's close of US$1.0374.
Stocks opened on a firm note in the Japanese market with investors indulging in some brisk buying after the previous session's setback.
However, with the yen's rise against the greenback hurting sentiment to an extent, the market saw only modest gains early on in the session. Towards the end of the morning session, stocks gained in strength as buying intensified a bit.
Energy and mining stocks led leading the pack of gainers, thanks to a firm trend in commodities prices. Stocks from pharmaceuticals, manufacturing and rubber sections were among the other notable gainers. Electric power, steel, non-ferrous metals and marine transport stocks traded mixed.
The benchmark Nikkei 225 index, which retreated a bit after a bright start, edged higher again and was up 55.3 points or 0.6 percent at 9,142.3 at the break.
Sharp Corp. shares gained more than 5 percent on reports the company is in investments talks with Intel Corp. Japan Tobacco moved up by over 3.5 percent and Shionogi & Co. shares gained 3 percent.
Shin-Etsu Chemical, NTT Data Corp., Keisei Electric Railway, Sony Financial Holdings, J Front Retailing, Credit Saison, Nippon Electric Glass, Tobu Railway and Ajinomoto also rose sharply.
Tobu Railway, Mitsubishi Motors, Casion Computer, East Japan Railway, Bank of Yokohama, Seven & I Holdings, Nikon Corp., Astellas Pharma and Konica Minolta Holdings too posted notable gains.
Among the prominent losers, Kobe Steel, JFE Holdings, Showa Denko KK, Advantest Corp. (ATE), Ube Industries, Komatsu, Sumitomo Metal Industries, Nippon Steel, Nisshin Steel, Sumitomo Heavy Industries and Dainippon Screen Manufacturing drifted down 2 to 4 percent, before regaining some lost ground.
According to data released by the Ministry of Finance, Japanese investors sold a net 289.4 billion yen in foreign stocks in the week ended September 15. Japanese residents also purchased a net 64.4 billion yen in bonds and notes last week.
Foreign investors bought a net 60.4 billion in Japanese stocks last week, the data showed, and they also purchased a net 521.7 billion yen in Japanese bonds and notes.
In the currency market, the U.S. dollar traded in the lower 78 yen range in early deals in Tokyo. The yen is currently trading at 78.25 to the dollar.
Among other markets in the Asia-Pacific region, Hong Kong, South Korea and Taiwan are trading notably higher. Indonesia and Singapore are up with modest gains, while Shanghai, Malaysia and New Zealand are up marginally. Markets across the region had ended lower on Thursday.
On Wall Street, stocks recovered well after early weakness and ended on a mixed note on Thursday. The early weakness was due largely to a disappointing jobs report.
While the Dow managed to climb into positive territory, the Nasdaq and the S&P 500 remained stuck in the red. The Dow crept up 19 points or 0.1 percent to 13,596.9, while the Nasdaq ended down 6.7 points or 0.2 percent at 3,176 and the S&P 500 edged down 0.8 points or 0.1 percent to 1,460.3.
Major European markets moved to the downside on Thursday. While the German DAX index closed just below the unchanged line, the U.K.'s FTSE 100 index and the French CAC 40 index both ended the day down by 0.6 percent.
U.S. crude oil ended slightly lower on Thursday, mostly on demand growth concerns with some soft macroeconomic data out of Europe and China, the huge U.S. crude stockpile last week, and Saudi Arabia's decision to maintain production at a high level.
Crude for October delivery ended down $0.11 or 0.1 percent at $91.87 a barrel on the New York Mercantile Exchange, after touching a low of $90.66 intraday.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.