Despite a positive lead from Wall Street where the major averages ended higher on Friday, most of the markets in the Asian region are trading weak on Monday with investors awaiting some crucial economic data from the region. The Japanese market, however, is trading notably higher, with the yen's slide against the greenback triggering some hectic buying.
After a slightly weak start and a subsequent upmove, the Australian market faltered on selling pressure and is currently trading modestly lower. Mining stocks are mostly trading weak. Consumer discretionary, healthcare, information technology and property trusts stocks are doing fairly well, while financial and energy stocks are trading mixed.
The benchmark S&P/ASX 200 index, which advanced to 5,219.2, is currently trading at 5,190.2, down 15.9 points or 0.3 percent from its previous close. The broader All Ordinaries index is down 14.1 points or 0.3 percent at 5,177, nearly 30 points off the day's high of 5,204.2.
Perseus Mining is trading nearly 7 percent down. Oz Minerals is down with a loss of 5.6 percent. Newcrest Mining, Regis Resources, Atlas Iron, Westpac (WBK), Alumina (AWC) and Qantas Airways are down 3 to 5 percent.
Fortescue Metals, Monadelphous Group, Rio Tinto (RIO), BHP Billiton (BHP) and Macquarie Group are also trading sharply lower.
Incitec Pivot is up nearly 3 percent despite lower earnings. The explosives and fertilizer maker has announced that its first half profit declined 23 percent. Incitec Pivot made a net profit of A$110.3 million in the six months to March 31, down from A$139.8 million in the same period the previous year.
Lynas Corp. is trading nearly 4 percent up. Echo Entertainment Group, QBE Insurance Group, ResMed Inc. (RMD) and Goodman Group are up 2 to 3 percent.
Shares of paint maker DuluxGroup Limited are trading nearly a percent higher despite a 31 percent decline in the company's first half profit. DuluxGroup said it made a net profit of A$32.9 million in the six months to March 31, down from A$47.9 million in the same period the previous year.
In the currency market, the Australian dollar, which fell below parity against the U.S. dollar early on Saturday morning, was quoting at US$0.9997 in early trades Monday.
The Japanese stock market opened on a high note and the benchmark Nikkei 225 index zoomed past the 14,800 mark for the first time since early January 2008, as the yen's fall against the U.S. dollar triggered some strong buying across the board.
The Nikkei, which opened higher by more than 150 points at 14,759.5, was up 225.8 points or 1.6 percent at 14,833.3 at the end of the morning session.
Mitsubishi Materials Corp. shares vaulted nearly 18 percent. Meidensha Corp., Kubota Corp., Sharp Corp., NTN Corp. and NSK Ltd. shares were up 11 to 16 percent at the break.
Panasonic Corp. (PC), Nomura Holdings, Pioneer Corp., Hitachi, Shinsei Bank, Daiwa Securities Group, Mitsumi Electric and Nisshin Steel Holdings gained 7 to 9 percent.
Nippon Telegraph & Telephone Corp. gained 7.5 percent following its forecast for higher earnings and its announcement of a share repurchase.
Mitsubishi UFJ Financial (MTU), Furukawa Electric, Mitsubishi Chemical Holdings, Sumitomo Mitsui Trust Holdings, Dai-ichi Life Insurance, Fuji Heavy Industries, TDK Corp. and Sony Corp. (SNE) are all trading higher by 4.5 to 6 percent.
Nissan Motor, Hino Motors, Suzuki Motor, Mazda Motor, Mitsubishi Motors, Isuzu Motors, Nikon Corp., Mizuho Financial (MFG), Casio Computer, JFE Holdings and Advantest Corp. (ATE) also rose sharply.
Meanwhile, Takara Holdings, Inpex Corp, Sumitomo Electric Industries, Trend Micro, Toho Zinc and Ube Industries lost 2.4 to 6 percent. Sapporo Holdings, Tokyo Tatemono, Tokyo Electric Power, Chiba Bank, Bank of Yokohama and Japan Tobacco were also down with notable losses.
On the economic front, money stock in Japan was up 3.3 percent on year in April, at 844.5 trillion yen, the Bank of Japan said. That beat forecasts for an increase of 3.1 percent - which would have been unchanged from the previous reading following the upward revision from 3.0 percent.
M3 money stock was up 2.6 percent to 1,142.0 trillion yen, topping expectations for a gain of 2.5 percent, which also would have been unchanged from the March reading.
L money stock was up 2.0 percent on year to 1,480.2 trillion yen following the revised 1.6 increase a month earlier.
In the currency market, the U.S. dollar traded around 102 yen in early deals in Tokyo. The yen is currently trading at 101.88 to the U.S. dollar.
Among other markets in the Asia-Pacific region, Shanghai, Hong Kong, Indonesia, Singapore, South Korea and Taiwan are trading weak, while Malaysia and New Zealand are up in positive territory with modest gains.
On Wall Street, stocks moved mostly higher on Friday, offsetting the weakness that was seen in the previous session. The markets continued to benefit from the recent upward momentum despite a relatively quiet day in terms of news.
The major averages ended the day at their highs for the session. The Dow edged up 35.9 points or 0.2 percent to 15,118.5, the Nasdaq advanced 27.4 points or 0.8 percent to 3,436.6 and the S&P 500 rose 7 points or 0.4 percent to 1,633.7.
Major European markets too ended higher on Friday. While the German DAX index edged up by 0.2 percent, the U.K.'s FTSE 100 index and the French CAC 40 index advanced by 0.5 percent and 0.6 percent, respectively.
U.S. crude oil prices slipped on renewed global demand worries after OPEC left its 2013 estimate unchanged and reported increased output in April. Crude for June delivery ended down 35 cents at $96.04 a barrel on the New York Mercantile Exchange.
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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.