Asian Markets Track Wall Street Higher

(RTTNews) - Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, amid optimism surrounding the upcoming U.S.-China trade talks to take place in Switzerland this week and China's new stimulus measures. Meanwhile, the US Fed left interest rates unchanged, and also warned of increasing risks of higher unemployment and higher inflation. Asian Markets closed mostly higher on Wednesday.

The Australian market is trading slightly higher on Thursday, extending the slight gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,200 level, with gains in gold miners and technology stocks partially offset by weakness in iron ore miners and financial stocks.

The benchmark S&P/ASX 200 Index is gaining 1.70 points or 0.02 percent to 8,180.00, after hitting a low of 8,154.80 earlier. The broader All Ordinaries Index is up 9.60 points or 0.11 percent to 8,409.40. Australian stocks ended modestly higher on Wednesday.

Among major miners, Mineral Resources is down more than 1 percent and Rio Tinto is edging down 0.3 percent, while BHP Group and Fortescue Metals are losing almost 1 percent each.

Oil stocks are mostly higher. Santos, Origin Energy and Beach energy are edging up 0.3 to 0.4 percent each, while Woodside Energy is edging down 0.5 percent.

In the tech space, Afterpay owner Block, Xero, WiseTech Global and Appen are gaining almost 1 percent each, while Zip is advancing almost 4 percent.

Among the big four banks, National Australia Bank and Commonwealth Bank are edging down 0.3 to 0.4 percent each, while Westpac is declining almost 4 percent and ANZ Banking is losing almost 1 percent.

Among gold miners, Northern Star Resources is adding almost 2 percent, Gold Road Resources is edging up 0.2 percent, Newmont is up more than 1 percent, Evolution Mining is gaining more than 2 percent and Resolute Mining is rising almost 1 percent.

In the currency market, the Aussie dollar is trading at $0.646 on Thursday.

The Japanese market is modestly higher in choppy trading on Thursday, recouping the losses in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling well below the 36,700 level, with weakness in index heavyweights, exporters and financial stocks partially offset by gains in technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 36,863.15, up 83.49 points or 0.23 percent, after hitting a low of 36,607.49 earlier. Japanese shares ended slightly lower on Wednesday.

Market heavyweight SoftBank Group is losing almost 3 percent and Uniqlo operator Fast Retailing is down more than 1 percent. Among automakers, Toyota is losing more than 1 percent and Honda is down almost 1 percent.

In the tech space, Advantest is gaining more than 1 percent, while Screen Holdings and Tokyo Electron are adding almost 1 percent each.

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

Among the major exporters, Sony is losing more than 3 percent, while Panasonic and Canon are down almost 1 percent each. Mitsubishi Electric is gaining more than 1 percent.

Among other major losers, LY Corp. and Mitsui O.S.K. Lines are losing more than 3 percent each.

Conversely, UBE and Yokogawa Electric are surging almost 6 percent each, while Disco is gaining more than 5 percent, Mercari is adding more than 4 percent, Nomura Research Institute is advancing almost 4 percent and Lasertec is up more than 3 percent.

In the currency market, the U.S. dollar is trading in the higher 143 yen-range on Thursday.

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

On Wall Street, stocks saw considerable volatility over the course of the trading day on Wednesday after moving mostly lower over the two previous sessions. The major averages swung back and forth across the unchanged, particularly in the latter part of the session.

The major averages eventually ended the day in positive territory. The Dow advanced 284.97 points or 0.7 percent to 41,113.79, the S&P 500 climbed 24.37 points or 0.4 percent to 5,631.28 and the Nasdaq rose 48.50 points or 0.3 percent to 17,738.16.

Meanwhile, the major European markets moved to the downside on the day. While the French CAC 40 Index slumped by 0.9 percent, the German DAX Index slid by 0.6 percent and the U.K.'s FTSE 100 Index fell by 0.4 percent.

Crude oil prices moved sharply lower over the course of the trading day on Wednesday, giving back ground following the surge seen in the previous session. After spiking $1.96 or 3.4 percent to $59.09 a barrel during Tuesday's session, crude for June delivery tumbled $1.02 or 1.7 percent to $58.07 a barrel.