Asian markets are mostly in the red on Friday, following the broadly negative cues from Wall Street overnight, as traders look to book some profits to take advantage of the recent strength in the markets. Traders also reacted to data showing a slightly bigger than expected increase in U.S. consumer prices that raised concerns about interest rates. Asian markets ended mostly higher on Thursday.
Snapping a six-session winning streak, the Australian stock market is modestly lower on Friday, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 7,100 level, dragged by losses in technology and financial stocks.
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