Asian stock markets are trading mostly weak on Friday, following the broadly negative cues from global markets overnight, amid continuing worries about inflation, interest rates and outlook for global economic growth after the US Fed's hawkish indications it will keep interest rates at elevated levels for longer than previously anticipated to combat stubborn inflation, after one more rate hike this year. Asian markets ended mostly lower on Thursday.
The Australian stock market is significantly lower on Friday, extending the losses in the previous four sessions, with the benchmark S&P/ASX 200 staying just above the 7,000 mark, following the broadly negative cues from global markets overnight, with weakness across most sectors, led by heavyweight mining stocks and technology stocks.
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