Asian markets are trading in positive territory on Friday with investors indulging in some selective buying, despite weak cues from Wall Street where stocks ended lower overnight amid some disappointing economic data.
Financial, mining and energy stocks are trading firm in the Australian market. The benchmark S&P/ASX 200 index is up 21.2 points or 0.4 percent at 5,186.9. The broader All Ordinaries index is trading at 5,165.2, up 20 points or 0.4 percent from its previous close.
Among bank stocks, ANZ Bank (ANZ) is up 1.5 percent, Commonwealth Bank of Australia is trading higher by 0.8 percent, Westpac (WBK) is up with a gain of 0.5 percent, and National Australia Bank is trading marginally higher. Bendigo & Adelaide Bank is adding 0.4 percent, and Bank of Queensland is up with a gain of 1 percent.
In the mining space, BHP Billiton (BHP) is up 2 percent, Rio Tinto (RIO) is trading 0.6 percent higher and Fortescue Metals is up 2.3 percent, while Newcrest Mining is trading lower by about 2.4 percent.
Aurora Oil & Gas is trading nearly 4 percent up. Whitehaven Coal and Oil Search are up by around 2.8 percent.
PanAust, Oz Minerals, SP Ausnet, Investa Office Fund, Resmed Inc. (RMD), Challenger and Atlas Iron are trading higher by 1.8 to 2.4 percent.
WorleyParsons is down nearly 14 percent after the company cut its profit guidance due to delays to major resources projects. The company expects to make a net profit in the range of A$320 million and A$340 million in the 2012-2013 financial year, below its underlying earnings of A$345.6 million in the previous financial year. The company had earlier forecast a higher net profit than the previous year's underlying earnings.
Incitec Pivot is down more than 4 percent. Wesfarmers, Seek, Flight Centre, Regis Resources, Lend Lease Group, David Jones and Myer Holdings are trading lower by 2 to 3 percent.
In the currency market, the Australian dollar declined to a new 11-month low against the U.S. dollar. In early trades, the Aussie was quoting at US$0.9797. It edged up subsequently to US$9809, but was still down from Thursday's close of US$0.9837.
After opening notably lower due to profit taking, the Japanese market pared some losses subsequently with the yen's slight decline triggering some buying at lower levels.
However, with several front line stocks reeling under a fresh bout of selling pressure on the back of a disappointing report on core machinery orders, the market came off higher levels and slipped into the red once again.
The benchmark Nikkei 225 index, which rebounded into positive territory after tumbling to 14,902 in early trades, was down 17.7 points or 0.1 percent at 15,019.6 when the morning session ended.
Nippon Sheet Glass Co. shares plunged 10 percent after the company forecast a wider-than-expected loss.
Tokyo Electron, Pioneer Corp., Taiyo Yuden, J Front Retailing and Advantest Corp. (ATE) lost 3 to 4 percent.
Sharp Corp. declined 3 percent. Sony Corp. (SNE), Fuji Electric, Isuzu Motors, Panasonic Corp. (PC), Asahi Group Holdings, Chiba Bank, Mitsubishi Electric Corp., Casio Computer and Mazda Motor were all down 1 to 2.2 percent at the break.
Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial (MTU), Nissan Motor, Softbank Corp., Suzuki Motor and JFE Holdings also posted notable losses.
Among the gainers in the Nikkei index, Heiwa Real Estate moved up 7.5 percent, Chiyoda Corp. surged 5.7 percent, Tokyo Tatemono advanced 5.5 percent and Taiheiyo Cement gained 5.3 percent.
Sumitomo Chemicals, Tokyu Land, Sumitomo Osaka Cement, MS&AD Insurance, Unitika, Toyo Seikan Group Holdings, Kawasaki Heavy Industries, Mitsui OSK Lines, Sony Financial Holdings, Sumitomo Realty & Development, Tokyo Electric Power, West Japan Railway and Yahoo Japan too posted strong gains.
On the economic front, core machine orders in Japan climbed a seasonally adjusted 14.2 percent on month in March, the Cabinet Office said on Friday. That shattered forecasts for an increase of 3.5 percent following the downwardly revised 4.2 percent increase in February (originally 7.5 percent).
On a yearly basis, core machine orders added 2.4 percent - also beating expectations for a decline of 4.9 percent following the 11.3 percent contraction in the previous month.
In the currency market, the U.S. dollar traded slightly above 102 yen in early deals in Tokyo. The yen is currently trading at 102.26 to the U.S. dollar.
Among other markets in the Asia-Pacific region, Shanghai, Indonesia, Malaysia and Singapore are trading modestly higher, while New Zealand and Taiwan are trading weak. Markets in Hong Kong and South Korea are closed for Buddha's Birthday.
On Wall Street, stocks ended lower on Thursday with traders reacting to a disappointing batch of U.S. economic data.
The Dow dipped 42.5 points or 0.3 percent to 15,233.2, the Nasdaq edged down 6.4 points or 0.2 percent to 3,465.2 and the S&P 500 declined 8.3 points or 0.5 percent to 1,650.5.
Major European markets ended mixed on Thursday. The German DAX index up by 0.1 percent, while the U.K.'s FTSE 100 index and the French CAC 40 index both dipped by 0.1 percent.
U.S. crude oil ended higher for a second straight day on Thursday, after the dollar dropped against a basket of major currencies following a slew of weak macroeconomic data out of the U.S.
Crude for June delivery ended up $0.86 or 0.9 percent at $95.16 a barrel on the New York Mercantile Exchange after hitting a low of $93.23 a barrel during the session.
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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.