Asian stock markets are trading mostly lower on Friday, following the negative cues overnight from Wall Street on sinking crude oil prices, renewed Covid-19 concerns and rising tensions between China and the U.S. Traders are also worried about the global economy as some central banks around the world are considering tightening monetary policy much sooner than the US Federal Reserve. Asian markets ended mixed on Thursday.
Australian stock market is slightly lower on Friday, extending the losses in the previous session, with the benchmark S&P/ASX 200 staying above the 7,300 level, following the negative cues overnight from Wall Street, as financial and mining stocks are taking a beating. Traders also remain concerned amid the rapid spread of highly contagious coronavirus variants in New South Wales and now in Victoria, with both greater Sydney and Melbourne under lockdowns.
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