Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from global markets on Friday, with traders looking to pick up stocks at reduced levels following recent weakness. Data showing a bigger than expected in US jobs addition in the month of April has fueled hopes that the US Fed will hold rates steady in the near future. Asian markets closed mixed on Friday.
The Australian stock market is notably higher on Monday, extending the gains in the previous session, with the benchmark S&P/ASX 200 staying above the 7,200 level, following the broadly positive cues from global markets on Friday, with gains across most sectors, led by energy and mining stocks.
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