Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from global markets on Friday, with strength in resources and energy stocks boosting the markets amid the spike in commodity prices. Markets were also supported by stronger-than-expected employment data from the US that helped raise hopes the US Fed would slow its pace of interest rate hikes in the upcoming meetings. Asian markets closed mostly higher on Friday.
The Australian stock market is modestly higher on Monday, extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 6,900 level, following the broadly positive cues from global markets on Friday, with strong gains in resources and energy stocks amid the spike in commodity prices.
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