Asian Markets Mixed Amid Cautious Trades

(RTTNews) - Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious amid the lack of concrete progress toward a broader trade agreement between the US and its trading partners, despite reaching temporary deals with some. The ongoing uncertainty surrounding Us-China trade relations continued to weigh on market sentiment. Asian markets closed mixed on Tuesday.

Australian shares are trading modestly higher on Wednesday, extending the gains in the previous three sessions, with the benchmark S&P/ASX 200 staying just above 8,400 level, following the broadly positive cues from Wall Street overnight, with gains in energy and technology stocks and a mixed performance in mining and financial stocks.

The benchmark S&P/ASX 200 Index is gaining 13.00 points or 0.16 percent to 8,420.60, after touching a high of 8,453.00 earlier. The broader All Ordinaries Index is up 19.40 points or 0.23 percent to 8,650.90. Australian stocks ended notably higher on Tuesday.

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

Oil stocks are mostly higher. Woodside Energy and Origin Energy are gaining almost 1 percent each, while Beach energy and Santos are edging up 0.2 to 0.3 percent each.

In the tech space, Afterpay owner Block is advancing 5.5 percent, WiseTech Global is edging up 0.5 percent, Zip is gaining more than 2 percent, Appen is adding almost 4 percent and Xero is up almost 1 percent.

Among the big four banks, Commonwealth Bank is edging up 0.5 percent, while Westpac is edging down 0.3 percent and ANZ Banking and National Australia bank are flat.

Among gold miners, Evolution Mining is gaining almost 1 percent, while Resolute Mining and Newmont are edging up 0.3 percent each. Northern Star Resources is losing more than 1 percent and Gold Road Resources is edging down 0.5 percent.

In other news, shares in Web Travel Group are soaring almost 15 percent after the travel company told investors it is "recalibrated and back on track" as total transaction values rose 22 percent in the full year to March.

In economic news, Australia's monthly Consumer Price Index (CPI) came in slightly higher than expected at 2.4 percent year-on-year in April 2025, but unchanged from the previous two months and marking the lowest level since November 2024.

In the currency market, the Aussie dollar is trading at $0.645 on Wednesday.

The Japanese stock market is trading notably higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 37,900 level, with gains across most sectors led by index heavyweights and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 37,918.86, up 194.75 points or 0.52 percent, after touching a high of 38,178.73 earlier. Japanese stocks ended notably higher on Tuesday.

Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Honda is gaining more than 1 percent and Toyota is edging up 0.3 percent.

In the tech space, Advantest is gaining almost 2 percent, Tokyo Electron is adding more than 1 percent and Screen Holdings is edging up 0.5 percent.

In the banking sector, Sumitomo Mitsui Financial is edging up 0.4 percent and Mizuho Financial is advancing almost 1 percent, while Mitsubishi UFJ Financial is edging down 0.1 percent.

Among the major exporters, Canon is gaining almost 1 percent, while Panasonic and Sony are adding more than 1 percent each. Mitsubishi Electric is losing almost 1 percent.

Among other major gainers, IHI is gaining almost 4 percent and Alps Alpine is advancing almost 3 percent.

Conversely, Sumitomo Metal Mining is declining more than 3 percent.

In the currency market, the U.S. dollar is trading in the lower 144 yen-range on Wednesday.

Elsewhere in Asia, New Zealand is down 1.9 percent, while Hong Kong and China are down 0.4 and 0.1 percent, respectively. South Korea is up 1.7 percent, while Taiwan and Singapore are up 0.5 and 0.4 percent, respectively. Malaysia and Indonesia are relatively flat. On the Wall Street, stocks saw further upside over the course of the trading day on Tuesday after moving sharply higher early in the session. With the strong upward move, the major averages largely offset the steep losses posted last week.

The Nasdaq shot up 461.96 points or 2.5 percent to 19,199.16, the S&P 500 surged 118.72 points or 2.1 percent to 5,921.54 and the Dow jumped 740.58 points or 1.8 percent to 42,343.65.

The major European markets also moved mostly higher on the day. The German DAX Index advanced by 0.8 percent and the U.K.'s FTSE 100 Index climbed by 0.7 percent, although the French CAC 40 Index closed just below the unchanged line.

Crude oil prices slumped on Tuesday on continuing concerns that OPEC may boost output at its meeting later today. West Texas Intermediate crude for June delivery dropped 0.65 or 1 percent to $64.09 per barrel.