Asian stock markets are trading mostly higher on Monday, following the mixed cues from global markets on Friday, as easing geopolitical tensions in the Middle East lifted market sentiment. Some traders also picked up stocks at a bargain after the sell-off last week. However, interest rate concerns linger after another US Fed official signaled a longer timeline for interest rate cuts. Asian markets closed mostly lower on Friday.
The Australian stock market is currently trading significantly higher on Monday, snapping the six-session losing streak, with the benchmark S&P/ASX 200 moving above the 7,600.00 level, following the mixed cues from global markets on Friday, with gains in mining, technology and financial stocks were partially offset by weakness in energy stocks. Easing geopolitical tensions in the Middle East lifted market sentiment.
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