Asian Markets Mixed Amid Cautious Trading

(RTTNews) - Asian stock markets are trading mixed on Friday, following the firmly positive cues overnight from Wall Street, as traders remain cautiously optimistic about a faster global economic recovery after the US Federal Reserve signaled a scale down in stimulus and easing concerns about the impact of Chinese real estate major Evergrande's debt woes. Asian markets ended mostly higher on Thursday.

Meanwhile, traders remain concerned about the impact of the rapid spread of the delta variant of coronavirus in the region and in several countries, particularly in the U.S., which continues to stifle economic activity.

The Australian stock market is modestly lower in choppy trading on Friday, giving up some of the gains in the previous three sessions, with the benchmark S&P/ASX 200 staying below the 7,300 level, ignoring the firmly positive cues overnight from Wall Street, dragged by gold miners. Traders also remain concerned as the country struggles to contain the domestic coronavirus situation, primarily in New South Wales and Victoria.

NSW has reported 1,043 new local cases of COVID-19 and eleven deaths on Thursday. Victoria reported a record 733 new locally acquired cases and one death, with active cases now totalling 7,160 across the state.

The benchmark S&P/ASX 200 Index is losing 32.10 points or 0.44 percent to 7,338.10, after hitting a low of 7,337.10 and a high of 7,377.00 earlier. The broader All Ordinaries Index is down 33.70 points or 0.44 percent to 7,647.60. Australian markets ended significantly higher on Thursday.
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