Asian stock markets are trading mostly lower on Monday, despite the broadly positive cues from the Wall Street on Friday, as traders remain concerned about a global recession as major central banks signaled their intent to move ahead with aggressive rate hikes to tame surging inflation. Asian markets closed mostly lower on Friday.
The Australian stock market is sharply higher on Monday, recouping some of the losses in the previous three sessions, with the benchmark S&P/ASX 200 moving above the 6,600 level, following the broadly positive cues from Wall Street on Friday, with strength across most sectors, particularly financials, technology, materials and energy stocks.
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