Asian Markets Trade Mixed

(RTTNews) - Asian markets are trading mixed on Thursday, following the broadly positive cues from Wall Street overnight, as traders are cautiously optimistic after the US Fed left interest rates unchanged despite inflationary pressures amid spiking crude oil prices. However, reports of the possibility of U.S. attacks on Iran by next week are fueling crude oil supply disruption concerns for an indefinite period. Asian markets closed mostly higher on Wednesday.

The central bank's next monetary policy meeting is scheduled for December 8-9, with CME Group's FedWatch Tool currently indicating an 85.0 percent chance the Fed will raise rates by a quarter point.

The U.S. has asked the gulf nations to be prepared for a short but intense military campaign against Iran jointly with Israel after the U.S. midterm elections are over by the first week of November.

The Australian market is trading modestly higher on Thursday, reversing the slight losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well below the 8,850 level, with gains across most sectors led by mining, energy and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 34.60 points or 0.39 percent to 8,881.90, after hitting a low of 8,847.30 earlier. The broader All Ordinaries Index is up 31.20 points or 0.35 percent to 9,002.60. Australian stocks ended slightly lower on Wednesday.

Among major miners, BHP Group is edging up 0.2 percent and Mineral Resources is gaining almost 1 percent, while Rio Tinto and Fortescue are edging down 0.4 percent each.

Oil stocks are mostly higher. Woodside Energy, Origin Energy and Santos are gaining more than 1 percent each, while Beach energy is advancing more than 2 percent.

In the tech space, Afterpay owner Block is edging up 0.4 percent, Zip is advancing more than 4 percent and Appen is surging almost 8 percent, while Xero and WiseTech Global are edging down 0.1 to 0.4 percent each.

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

Among gold miners, Evolution Mining and Genesis Minerals are gaining more than 1 percent each, while Resolute Mining is advancing more than 3 percent and Newmont is edging up 0.4 percent. Northern Star Resources is edging down 0.4 percent.

In other news, shares in Mesoblast Are surging more than 13 percent following the release of strong activity report for the first fiscal quarter, with strong revenue growth.

Shares in Champion Iron are tumbling almost 16 percent on reporting downbeat second-quarter and half-yearly financial results, which revealed a sharply widened net loss.

In economic news, Australia's export prices increased 1.4 percent on quarter in the third quarter of 2026, following a 1.1 percent rise in the previous quarter, marking the fourth consecutive quarterly increase. It was the fastest increase since the fourth quarter of 2025. Annually, export prices rose 6.3 percent in the third quarter.

Meanwhile, Australia's import prices fell 1.1 percent on quarter in the third quarter of 2026, reversing a 5.7 percent increase in the second quarter and missing market expectations for a 1.3 percent rise. The decline was the first since the third quarter of 2025.

In the currency market, the Aussie dollar is trading at $0.706 on Thursday.

The Japanese market is trading modestly higher on Thursday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 64,100 level, with gains is index heavyweights, financial and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 64,131.28, up 177.09 points or 0.28 percent, after touching a high of 64,797.33 earlier. Japanese stocks ended significantly higher on Wednesday.

Market heavyweight SoftBank Group is gaining more than 1 percent, while Uniqlo operator Fast Retailing is edging down 0.2 percent. Among automakers, Toyota is gaining almost 1 percent, while Honda is edging up 0.5 percent.

In the tech space, Advantest is surging more than 7 percent, Tokyo Electron is edging up 0.3 percent and Screen Holdings is flat.

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

Among the major exporters, Mitsubishi Electric and Sony are edging down 0.1 to 0.3 percent each, while Panasonic is declining almost 2 percent. Canon is is gaining almost 1 percent.

Among other major gainers, Kioxia Holdings is surging more than 7 percent and Nisshin Seifun is jumping more than 6 percent, while Ibiden and Furukawa Electric are gaining almost 5 percent each. Resonac Holdings is advancing almost 4 percent and Sumitomo Electric Industries is adding almost 3 percent.

Conversely, Hitachi is plunging almost 8 percent, NEC is tumbling more than 6 percent, Renesas Electronics is declining more than 4 percent and Socionext is losing almost 4 percent, while JTEKT, Capcom, Sharp and Nissan Chemical are down almost 3 percent each.

In the currency market, the U.S. dollar is trading in the higher 157 yen-range on Thursday.

Elsewhere in Asia, South Korea is slipping 2.8 percent, while Taiwan and Indonesia are down 1.5 and 1.0 percent, respectively. China and Hong Kong are down 0.7 and 0.1 percent, respectively. New Zealand, Singapore and Malaysia are higher by between 0.1 and 0.4 percent each.

On Wall Street, stocks turned in a relatively lackluster performance during trading on Wednesday after moving notably higher over the two previous sessions. The major averages spent much of the day lingering near the unchanged line.

The major averages eventually closed modestly higher. The Dow edged up 97.53 points or 0.2 percent at 52,475.10, the S&P 500 rose 21.38 points or 0.3 percent to 7,743.98 and the Nasdaq climbed 72.04 points or 0.3 percent to 26,549.85.

The major European markets also moved to the upside on the day. While the French CAC 40 Index ended the day nearly unchanged, the U.K.'s FTSE 100 Index inched up by 0.1 percent and the German DAX Index climbed by 0.4 percent.

Crude oil prices surged on Wednesday as reports suggest possible U.S. attacks on Iran by next week, fueling supply disruption concerns for an indefinite period. West Texas Intermediate crude for December was up $3.12 or 3.12 percent at $103.02 per barrel.