Asian Markets Track Wall Street Lower

(RTTNews) - Asian markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, as a rebound in crude oil prices and surging bond yields renewed global inflation risks and interest rate hike concerns amid uncertainty in the resolution of the Middle East conflict and the reopening of the critical Strait of Hormuz. Asian markets closed mixed on Wednesday.

The uncertainty followed comments a day earlier from U.S. President Donald Trump. Speaking before the UN General Assembly, Trump said a deal with Iran may be possible after the midterm elections but said that he may instead just decide to "annihilate the Islamic Republic." He also spoke of setting up a "large military presence" in Greenland.

The Australian market is notably lower on Thursday, snapping a three-session winning streak, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,700 level, with weakness in mining, financial and technology stocks partially offset by energy stocks.

The benchmark S&P/ASX 200 Index is losing 60.40 points or 0.69 percent to 8,704.90, after hitting a low of 8,645.70 earlier. The broader All Ordinaries Index is down 55.90 points or 0.62 percent to 8,900.30. Australian stocks ended slightly higher on Wednesday.

Among major miners, BHP Group and Mineral Resources are losing more than 2 percent each, while Fortescue is slipping more than 1 percent and Rio Tinto is down almost 2 percent.

Oil stocks are mostly higher. Origin Energy is edging up 0.5 percent and Santos is adding more than 1 percent, while Woodside Energy and Beach energy are gaining almost 1 percent each.

In the tech space, Afterpay owner Block is losing almost 3 percent, WiseTech Global is down almost 1 percent, Appen is declining almost 5 percent and Zip is tumbling almost 6 percent, while Xero is edging up 0.3 percent.

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

Among gold miners, Evolution Mining is losing more than 2 percent, Northern Star Resources is declining almost 3 percent and Newmont is down more than 1 percent, while Genesis Minerals and Resolute Mining are slipping almost 2 percent each.

In economic news, employment in Australia increased by 39,500 to a new record of 14.84 million in August 2026, reversing a marginally revised 15,900 decline in the previous month and easily exceeding market expectations for a 20,000 gain. Employment expanded by 238,100, or 1.6 percent from last year.

Australia's seasonally adjusted unemployment rate inched up to 4.6 percent in August, surpassing both market expectations and July's figure of 4.5 percent. It was the highest since November 2021. The number of unemployed increased 28,200 to a five-year high of 722,900 from 694,700 in July. The participation rate edged up to 67.1 percent, above expectations and July's figure of 66.9 percent, marking the highest since April 2025.

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

The Japanese market is sharply higher in post-holiday trading on Thursday, extending the gains in the previous three sessions, despite the broadly negative cues from Wall Street overnight. The Nikkei 225 is moving well above the 65,850 level, with gains in index heavyweights, exporters and technology stocks partially offset by weakness in financial stocks.

The benchmark Nikkei 225 Index closed the morning session at 65,883.41, up 864.46 points or 1.33 percent, after touching a high of 66,249.11 earlier. Japanese stocks ended sharply higher on Friday ahead of the holidays on Monday, Tuesday and Wednesday.

Market heavyweight SoftBank Group is jumping more than 6 percent and Uniqlo operator Fast Retailing is gaining more than 1 percent. Among automakers, Toyota is losing more than 1 percent, while Honda is gaining more than 3 percent.

In the tech space, Advantest is advancing almost 4 percent, Screen Holdings is gaining almost 3 percent and Tokyo Electron is adding more than 1 percent.

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

Among the major exporters, Mitsubishi Electric is gaining almost 3 percent, Canon is adding almost 1 percent and Panasonic is advancing more than 4 percent, while Sony is edging down 0.3 percent.

Among other major gainers, Ibiden soaring more than 15 percent, Socionext is jumping more than 12 percent and Sumitomo Electric Industries is surging almost 7 percent, while Resona Holdings and Renesas Electronics are advancing almost 6 percent each. Ebara is gaining more than 5 percent, while Sumco, Toppan Holdings and TDK are adding more than 4 percent each. Minebea Mitsumi and Kioxia Holdings are rising almost 4 percent each, while Nikon is up more than 3 percent.

Conversely, Recruit Holdings is sliding almost 5 percent and Comsys Holdings is slipping more than 4 percent, while MS&AD Insurance and Tokyo Electric Power are declining almost 4 percent each. Osaka Gas, BayCurrent, Kansai Electric Power and ZOZO are losing almost 3 percent each.

In economic news, the manufacturing sector in Japan continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 54.1. That's down from 54.9, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the services PMI fell to 51.6 from 52.5 in August, while the composite PMI dropped to 52.5 from 53.5.

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

Elsewhere in Asia, New Zealand, China, Hong Kong, Malaysia, Indonesia and Taiwan are all lower by between 0.2 and 0.6 percent each. Singapore is relatively flat. South Korea is closed for Chuseok Thanksgiving Day holiday. On Wall Street, stocks spent all of Wednesday under water, thanks to a rebound in crude oil prices that followed comments a day earlier from U.S. President Donald Trump. The major averages opened in the red on Wednesday and continued to trend lower throughout the session, ending at daily lows.

The Dow sank 352.10 points or 0.68 percent to finish at 51,511.59, while the NASDAQ dropped 308.24 points or 1.13 percent to close at 26,936.04 and the S&P 500 lost 58.61 points or 0.75 percent to end at 7,706.03.

The major European markets also moved to the downside on the day. The French CAC 40 Index fell 31.50 points or 0.39 percent to 8,123.41, the German DAX Index sank 168.22 points or 0.66 percent to 25,410.63 and the U.K.'s FTSE 100 Index dipped 3.07 points or 0.03 percent to 10,705.26.

Crude oil prices snapped a five-day losing streak on Wednesday as prices climbed thanks to ongoing concerns about the Middle East conflict. West Texas Intermediate Crude oil futures for November delivery rose $1.90 or 2.1 percent to $92.40 a barrel.