Asian stock markets are exhibiting a mixed trend on Friday, following another lackluster performance overnight on Wall Street and the sharp decline in crude oil prices. Investors are treading cautiously amid uncertainty about the near-term outlook for the markets.
The Australian market slipped into negative territory, with the banking and energy sector stocks mostly trading lower. Some weak corporate earnings results also damped sentiment.
In late-morning trades, the benchmark S&P/ASX 200 Index is down 12.50 points or 0.21 percent to 5,896.00, after touching a high of 5,916.30 in early trades. The broader All Ordinaries Index is declining 12.80 points or 0.22 percent to 5,865.10.
In the mining sector, BHP Billiton (BHP) is down 0.6 percent, while Rio Tinto (RIO) is adding 0.8 percent and Fortescue Metals is higher by 0.6 percent.
Rio Tinto said it will merge its copper and coal divisions into one business, while its portfolio of assets will be consolidated into four product groups as part of a new range of cost-cutting measures.
Gold miner Newcrest Mining is gaining more than 3 percent after the company said it reduced its stake in Evolution Mining to 14.9 percent at a discounted sale price of A$0.85 per share. The company added that proceeds from the sale of about A$106 million will be used to repay debt. Evolution Mining shares are down almost 10 percent.
On the final day of the earnings season, supermarket giant and index heavyweight Woolworths reported a 3 percent decline in profit for the first half and lowered its full-year outlook.
Meanwhile, the head of Woolworths' Australian Food and Liquor Division, Tjeerd Jegen, stepped down and will be replaced by the current head of the company's liquor business Brad Banducci. The company's shares are down more than 8 percent.
GrainCorp forecast a lower profit for 2015 compared to the prior year, citing smaller crops and weaker exports. The company's shares are declining more than 3 percent.
Among the major banks, ANZ Banking, National Australia Bank and Westpac are lower in a range of 0.2 percent to 0.7 percent. Commonwealth Bank is adding 0.8 percent.
In the oil space, Woodside Petroleum is declining 0.5 percent, Santos is losing more than 1 percent and Oil Search is lower by 1.5 percent, following the fall in crude oil prices overnight.
Retailer Harvey Norman reported a 27 percent increase in its half-year net profit. Shares of the company are gaining more than 1 percent.
Qantas received a more favorable outlook from credit ratings agency Moody's after it reported a turnaround to profit in the half year. The airline's shares are gaining more than 3 percent.
On the economic front, the Reserve Bank of Australia said Friday that total private sector credit in Australia was up 0.6 percent on month in January, exceeding expectations for a gain of 0.5 percent, which would have been unchanged from the December reading.
In the currency market, the Australian dollar fell sharply against the U.S. dollar on Friday after the release of some positive U.S. economic data. In early trades, the local unit was trading at US$0.7794, down from US$0.7847 on Thursday.
The Japanese market is higher, with the benchmark Nikkei 225 Index rising to a fresh nearly 15-year high following the release of better-than-expected industrial output data. In addition, a weaker yen boosted exporters' stocks.
In late-morning trades, the Nikkei 225 Index is adding 58.84 points or 0.31 percent to 18,844.63, after earlier rising to 18,855.85, its highest intraday level since April 2000.
Among the major exporters, Sony Corp. (SNE) is higher by more than 1 percent, Sharp Corp is advancing almost 2 percent, Konica Minolta is higher by 0.3 percent and Canon (CAJ) is edging up 0.2 percent. Panasonic is rising 1.8 percent.
In the auto space, Honda (HMC) is down almost 1 percent, Suzuki and Nissan are declining 0.3 percent, and Toyota (TM) is edging down 0.07 percent.
Yamaha is down 0.4 percent despite the Nikkei business daily reporting that the company plans to make and sell cars in Europe starting around 2019.
In the banking sector, Mitsubishi UFJ Financial (MTU) is down 0.6 percent, while Sumitomo Mitsui Financial is advancing 1.2 percent and Mizuho Financial (MFG) is edging higher by 0.2 percent. Mizuho Financial has agreed to acquire Royal Bank of Scotland's lending business in North America.
Among the other major gainers, Meiji Holdings is up 4.9 percent, Kajima Corp is adding 2.3 percent and Unitika is gaining 1.8 percent. Meanwhile, Yokogawa Electric Corp is declining 4.6 percent, Pacific Metals is down 2.8 percent and Tokai Carbon is losing 2.2 percent.
On the economic front, industrial output in Japan was up 4.0 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday. That beat forecasts for an increase of 2.7 percent following the 0.8 percent increase in December.
On a yearly basis, industrial production dipped 2.0 percent - but that also beat forecasts for a decline of 3.1 percent following the 0.1 percent increase in the previous month.
The Ministry of Economy, Trade and Industry also said that the total value of retail sales in Japan was down 2.0 percent on year in January, coming in at 11.485 trillion yen. That missed forecasts for a decline of 1.2 percent following the 0.1 percent gain in December.
On a seasonally adjusted monthly basis, retail sales tumbled 1.3 percent - shy of expectations for a fall of 0.4 percent, which would have been unchanged.
The Ministry of Internal Affairs and Communications said that the jobless rate in Japan came in at a seasonally adjusted 3.6 percent in January. That missed forecasts for 3.4 percent, which would have been unchanged from the December reading.
The Ministry of Internal Affairs and Communications also said that the average of household spending in Japan was down 5.1 percent on year in January, standing at 289,847 yen. That missed forecasts for a decline of 4.1 percent following the 3.4 percent contraction in December.
Meanwhile, consumer prices in Japan were up 2.4 percent on year in January, in line with expectations and unchanged from the December reading. Core consumer prices were up 2.2 percent on year, below forecasts for 2.3 percent and down from 2.5 percent.
In the currency market, the U.S. dollar is trading in the lower 119-yen range on Friday. In early trades, the dollar was quoted in a range of 119.38-119.43 yen, up from Thursday's close of 118.81-118.83 yen in Tokyo.
Among other markets in the Asia-Pacific region, Shanghai, Hong Kong and Indonesia are marginally higher. Meanwhile, New Zealand, South Korea, Singapore and Malaysia are down with modest losses. Markets in Taiwan are closed on Friday in observance of Peace Memorial Day.
On Wall Street, stocks turned in another lackluster performance on Thursday, amid uncertainty about the near-term outlook for the markets. The major averages fluctuated over the course of the trading day before ending the session mixed.
The tech-heavy Nasdaq climbed 20.75 points or 0.4 percent to 4,987.89, moving within striking distance of its record highs, while the Dow edged down 10.15 points or 0.1 percent to 18,214.42 and the S&P 500 dipped 3.12 points or 0.2 percent to 2,110.74.
The major European markets all ended Wednesday on the upside. While the U.K's FTSE 100 Index edged up by 0.2 percent, the French CAC 40 Index advanced by 0.6 percent and the German DAX Index jumped by 1 percent.
U.S. crude oil tumbled over five percent to end at a one-month low Thursday, on renewed concerns of oversupplies after crude stockpiles in the U.S. surged much more than anticipated last week even as the dollar strengthened sharply following a slew of economic data.
Crude Oil futures for April delivery, the most actively traded contract, plummeted $2.82 or 5.5 percent to settle at $48.17 a barrel on the New York Mercantile Exchange Thursday.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.