Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, as the markets cheer the U.S. Supreme Court striking down most of US President Donald Trump's global tariffs saying the International Emergency Economic Powers Act, or IEEPA, does not authorize the president to impose tariffs. Traders also kept a close eye on the evolving geopolitical situation involving the US and Iran. Asian markets closed mostly lower on Friday.
The Australian stock market is modestly lower on Monday after opening in the green, extending the slight losses in the previous session, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is staying below the 8,100.00 level, with weakness in energy and technology stocks partially offset by gains in gold miner stocks.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.