Asian Markets Track Wall Street Higher

(RTTNews) - Asian markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, amid optimism over the outlook for interest rates even amid concerns about global inflation risks after a report showed weaker than expected US private sector job growth. Some traders also looked to pick up stocks at a bargain following the recent market slump. Asian markets closed mostly lower on Wednesday.

Meanwhile, US President Donald Trump said renewed US attacks on Iran would likely be short-lived, helping ease concerns over a prolonged Middle East conflict, while lower oil prices provided some relief over global inflation and energy-cost pressures.

The Australian market is notably higher in choppy trading on Thursday after opening in the red, snapping a three-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 9,000 level, with gains in mining and financial stocks partially offset by weakness in technology stocks.

The benchmark S&P/ASX 200 Index is gaining 37.70 points or 0.42 percent to 9,016.10, after hitting a low of 8,970.30 and a high of 9,013.90 earlier. The broader All Ordinaries Index is up 38.00 points or 0.41 percent to 9,198.30. Australian stocks ended significantly lower on Wednesday.

Among major miners, BHP Group is losing almost 1 percent. Fortescue and Mineral Resources are advancing almost 3 percent each, while Rio Tinto is adding almost 2 percent.

Oil stocks are mostly lower. Woodside Energy is losing almost 3 percent, Beach energy is down almost 1 percent and Santos is edging down 0.1 percent, while Origin Energy is edging up 0.4 percent.

In the tech space, Afterpay owner Block is surging more than 5 percent, while Xero is losing almost 1 percent, Zip is edging down 0.4 percent, WiseTech Global is declining almost 2 percent and Appen is slipping almost 3 percent.

Among the big four banks, ANZ Banking, Westpac and National Australia Bank are advancing almost 2 percent each, while Commonwealth Bank is gaining almost 1 percent.

Among gold miners, Evolution Mining and Northern Star Resources are gaining more than 2 percent each, while Resolute Mining is advancing almost 4 percent, Genesis Minerals are rising more than 3 percent and Newmont is adding almost 3 percent.

In other news, shares in Regis Healthcare are tumbling 28 percent after noted a 2.55% increase to the industry-wide government funding rate, with inflation and wage pressures running well ahead of this increase.

Shares in Corporate Travel Management are crashing 81 percent as trading resumed on the ASX after an extended year-long suspension since August 2025 after uncovering accounting issues that snowballed into a massive scandal.

In economic news, the services sector in Australia continued to expand in August, albeit at a slower pace, the latest survey from S&P Global revealed on Thursday with a Purchasing Managers Index score of 53.2. That's down from 53.6 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the composite index eased to 52.7 in August from 53.2 in July.

In the currency market, the Aussie dollar is trading at $0.717 on Thursday.

The Japanese market is trading modestly higher on Thursday, snapping a three-session losing streak, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 64,450 level, with gains in automakers and financial stocks.

The benchmark Nikkei 225 Index closed the morning session at 64,455.83, up 130.19 points or 0.20 percent, after hitting a low of 64,140.04 and a high of 64,724.81 earlier. Japanese stocks ended sharply lower on Wednesday.

Market heavyweight SoftBank Group is gaining more than 1 percent, while Uniqlo operator Fast Retailing is declining almost 4 percent. Among automakers, Toyota is gaining almost 1 percent and Honda is adding almost 2 percent.

In the tech space, Advantest is losing almost 1 percent and Screen Holdings is edging down 0.5 percent, while Tokyo Electron is gaining more than 1 percent.

In the banking sector, Mizuho Financial and Mitsubishi UFJ Financial are gaining more than 1 percent each, while Sumitomo Mitsui Financial is advancing almost 2 percent.

Among the major exporters, Mitsubishi Electric, Canon and Sony are edging up 0.1 to 0.3 percent each, while Panasonic is losing almost 1 percent.

Among other major gainers, Nitori Holdings is soaring almost 7 percent and Mitsubishi Motors is gaining more than 4 percent, while Orix and Kubota are advancing almost 4 percent each. Hitachi Construction Machinery is adding more than 3 percent, while Mitsui Chemicals, Kyowa Kirin, Mitsubishi, Sumitomo Pharma, Renesas Electronics, ENEOS, Mitsubishi Chemical, Nippon Steel, Sumitomo and Resonac Holdings are all up almost 3 percent each.

Conversely, Inpex and NH Foods are declining more than 3 percent each, while Isetan Mitsukoshi and Ibiden are losing almost 3 percent each.

In economic news, the services sector in Japan continued to expand in August, and at a faster pace, the latest survey from S&P Global revealed on Thursday with a Purchasing Managers Index score of 52.5. That's up from 51.2 in July, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the composite index improved to 53.5 in August from 52.7 in July.

In the currency market, the U.S. dollar is trading in the lower 158 yen-range on Thursday.

Elsewhere in Asia, South Korea is up 1.3 percent, while China, Singapore, Hong Kong, Malaysia, Indonesia and Taiwan are higher by between 0.1 and 0.6 percent each. New Zealand is bucking the trend and is down 0.1 percent. On Wall Street, stocks moved mostly higher during trading on Wednesday, regaining ground following the pullback seen over the past few sessions. The major averages all moved back to the upside, although buying interest appeared somewhat subdued.

The major averages all finished the day firmly in positive territory. The Dow climbed 295.07 points or 0.6 percent to 53,061.95, the Nasdaq rose 118.05 points or 0.5 percent to 26,217.82 and the S&P 500 increased 35.13 points or 0.5 percent to 7,666.60.

Meanwhile, the major European markets also moved to the downside on the day. While the German DAX Index fell by 0.5 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index both dipped by 0.3 percent.

Crude oil prices jumped on Wednesday after the U.S. commenced its second round of attacks against Iran to escalate hostilities. West Texas Intermediate crude for October delivery was up $0.97 or 1.08 percent at $91.19 per barrel.