Asian Markets Mixed Amid Cautious Trades

(RTTNews) - Asian markets are mixed on Wednesday, following the positive cues from Wall Street overnight, amid easing crude oil prices and a spike in semiconductor stocks on renewed optimism about the AI trade after AI giant Anthropic publicly filed for an IPO on Monday. The uncertainty in the Middle East weighed on market sentiment as efforts by regional intermediaries to defuse Middle East tensions continue. Asian markets closed mixed on Tuesday.

Traders seemingly remained reluctant to make significant moves ahead of the US Federal Reserve's interest rate decision later in the day, followed by rate decisions from the European Central Bank and Bank of Japan later this week. All three central banks are expected to keep the key rate unchanged.

CME Group's FedWatch Tool is currently indicating a 92.8 percent chance the Fed will leave rates unchanged tomorrow but a 78.0 percent chance of a quarter point rate hike in December.

Australian shares are trading modestly higher on Wednesday, extending the gains in the previous three sessions, with the benchmark S&P/ASX 200 moving above the 8,850 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and technology stocks.

The markets pared early gains following the release of hotter-than-expected domestic inflation data, which boosted expectations for a fifth rate hike this year.

The benchmark S&P/ASX 200 Index is gaining 18.00 points or 0.20 percent to 8,868.10, after touching a high of 8,937.00 earlier. The broader All Ordinaries Index is up 22.80 points or 0.25 percent to 8,991.60. Australian stocks ended notably higher on Tuesday.

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

Oil stocks are mostly higher. Woodside Energy and Santos are advancing more than 2 percent each, while Beach energy is gaining almost 1 percent. Origin Energy is edging down 0.4 percent.

In the tech space, Afterpay owner Block is gaining almost 2 percent, Zip is adding more than 4 percent, Xero is up almost 2 percent, WiseTech Global is advancing more than 2 percent and Appen is surging more than 8 percent.

Among the big four banks, Commonwealth Bank is adding more than 1 percent and National Australia bank is edging up 0.5 percent, while Westpac and ANZ Banking are gaining almost 1 percent each.

Among gold miners, Evolution Mining is advancing almost 3 percent, Resolute Mining is rising almost 4 percent, Genesis Minerals is surging more than 4 percent, Newmont is adding almost 1 percent and Northern Star Resources is gaining more than 1 percent.

In economic news, Australia's annual inflation rate accelerated to 4.3 percent in September 2026 from 4.0 percent in August, above market expectations of 4.2 percent, marking the highest rate since March. The reading also moved further above the central bank's 2 to 3 percent target range.

The trimmed mean CPI rose to 3.6 percent on year from 3.5 percent, in line with forecasts, while the weighted median eased to 3.4 percent from 3.6 percent.

On a monthly basis, the CPI increased by 0.8 percent, exceeding expectations of a 0.7 percent rise and accelerating from a 0.4 percent gain in August to mark its largest increase in six months.

In the currency market, the Aussie dollar is trading at $0.703 on Wednesday.

The Japanese stock market is trading sharply higher on Wednesday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 64,050 level, with gains in index heavyweights and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 64,067.10, up 798.73 points or 1.26 percent, after touching a high of 64,260.86 earlier. Japanese stocks ended sharply higher on Tuesday.

Market heavyweight SoftBank Group is gaining more than 2 percent and Uniqlo operator Fast Retailing is adding almost 2 percent. Among automakers, Honda is edging up 0.1 percent, while Toyota is flat.

In the tech space, Advantest and Screen Holdings are gaining almost 3 percent each, while Tokyo Electron is advancing more than 3 percent.

In the banking sector, Sumitomo Mitsui Financial is losing almost 1 percent and Mitsubishi UFJ Financial is edging down 0.3 percent, while Mizuho Financial is gaining almost 1 percent.

Among the major exporters, Mitsubishi Electric is edging up 0.3 percent and Panasonic is gaining almost 1 percent, while Canon is declining almost 6 percent and Sony is losing more than 1 percent.

Among other major gainers, Kioxia Holdings is soaring more than 8 percent and Taiyo Yuden is surging almost 8 percent, while Renesas Electronics and Sumco are advancing more than 5 percent each. Ibiden and TDK are gaining more than 4 percent each, while Murata Manufacturing, Kyocera, Disco, JX Advanced Metals, SMC and Shin-Etsu Chemical are adding almost 4 percent each. Socionext and Denka are up more than 3 percent each.

Conversely, Capcom is tumbling almost 11 percent, Nitto Denko is slipping more than 5 percent and Konami Group is declining almost 5 percent, while Asahi Group and Kirin Holdings are losing more than 3 percent each. Tokio Marine and BANDAI NAMCO are down almost 3 percent each.

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

Elsewhere in Asia, South Korea and Taiwan are surging 5.8 and 1.2 percent, respectively. New Zealand and China are up 0.3 percent each. Singapore, Malaysia and Indonesia are lower by between 0.1 and 0.8 percenteach. Hong Kong is relatively flat.

On Wall Street, stocks showed another notable move to the upside during trading on Tuesday after starting the week off on an upbeat note. The tech-heavy Nasdaq led the way higher, bouncing further off the two-month closing low set last Friday.

The Nasdaq gave back some ground going into the end of the day but still jumped 308.43 points or 1.2 percent to 26,477.60. The S&P 500 also climbed 45.83 points or 0.6 percent to 7,722.60, while the narrower Dow posted a more modest gain, inching up 15.99 points or less than a tenth of a percent to 52,377.57. Meanwhile, the major European markets also ended the day mixed. While the U.K.'s FTSE 100 Index slid by 0.8 percent, the French CAC 40 Index climbed by 0.5 percent and the German DAX Index advanced by 0.7 percent.

Crude oil prices slumped again on Tuesday on efforts by regional intermediaries in the gulf to defuse Middle East tensions. West Texas Intermediate crude for December delivery sank $1.73 or 1.70 percent at $100.03 per barrel.