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.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.