Reflecting the mostly negative cues from global markets on Friday, Asian stock markets are trading in the red on Monday, as traders remain cautious on renewed concerns about the outlook for interest rates after US data showed hotter-than-expected consumer price inflation and a slump in consumer sentiment. They also kept an eye on developments in the conflict in the Middle East between Israel and Hamas. Asian markets closed mostly lower on Friday.
The Australian stock market is modestly lower on Monday, extending the losses in the previous session, with the benchmark S&P/ASX 200 falling to near the 7,000 mark, following the mostly negative cues from global markets on Friday, with losses in financial and technology stocks partially offset by gains in gold miners and energy stocks.
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