Asian stock markets are trading mostly higher on Monday, following the positive cues from Wall Street on Friday, as traders react to better than expected employment data from the U.S. and the spike in crude oil prices. The upbeat jobs data added to optimism about the outlook for the economy despite lingering concerns about supply chain issues and rising inflation. Asian markets closed mostly lower on Friday.
The Australian stock market is slightly lower in choppy trading on Monday, shedding some of the gains in the previous three sessions, with the benchmark S&P/ASX 200 staying above the 7,400 level, despite the positive cues from Wall Street on Friday, as gains in the mining and energy stocks were more than offset by weakness in technology stocks.
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