WIKIFX REPORT: Asian Daily Market Review

　　Asian stock markets are trading mostly higher on Friday, following the broadly positive cues overnight from global markets, boosted by materials and energy stocks amid rebounding commodity prices. Traders also indulged in some strong buying in several sectors amid hopes the central bank would gradually start lightening its policy stance later this year.

　　 Asian markets are mixed for a second day in a row with no overnight cues from Wall Street, and investors in some regions worried after China reported rising COVID cases and new lockdown measures. Investors are also grappling with growth concerns as it looks like the world is headed for a recession, but central banks remain aggressive in tightening monetary policy.

　　Japans Nikkei is trading 0.8% higher today after the Yen weakened to over 136.00 again versus the U.S. dollar. Shares of Softbank Group are 1.9% higher, but Sony is bucking the rising trend with a loss of 0.4%. Among the major exporters Toyota is up by 0.4%, Panasonic is edging lower by 0.2%, and Canon is rallying 1% higher.

　　In Australia the S&P/ASX 200 is 0.2% higher, but getting no help from the big four banks. ANZ shares are down 1.3%, NAB is falling 0.6%, while Commonwealth Bank and Westpac are both trading 0.3% lower. The major miners are helping to support the broader market however as BHP is gaining 1.1% and Rio Tinto trades 0.3% higher.

　　Mainland Chinese markets are falling on the COVID lockdown concerns, with the benchmark Shanghai Composite losing 0.3% and the smaller cap Shenzhen Composite dropping 0.9%. Meanwhile over in Hong Kong the Hang Seng is marching to its own beat with a gain of 0.4%.

　　In South Korea the Kospi is leading gains for the region with a 1.1% advance, while Taiwans Taiex trades 0.6% lower on the day.

　　In South Korea the Kospi is leading gains for the region with a 1.1% advance, while Taiwans Taiex trades 0.6% lower on the day.

　　Southeast Asian markets are mixed as Malaysias KLCI inches up by 0.1%, while the Straits Times Index in Singapore is falling 0.4%.