Asian stock markets are trading mostly lower on Friday, following the broadly negative cues from global markets overnight, on growing fears of a recession amid persistently high inflation, rising interest rates and slowing global growth. Buying interest generated by the Bank of England's bond market intervention quickly evaporated as traders quickly cashed in on the gains. Asian markets ended mostly higher on Thursday.
The Australian stock market is significantly lower on Friday, giving up some of the gains in the previous session, with the benchmark S&P/ASX 200 falling to nearly the 6,500 level, following the broadly negative cues from global markets overnight, dragged by weakness in financial and technology stocks, partially offset by gains in mining stocks.
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