Asian Markets Trade Mixed

(RTTNews) - Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and are reluctant to make more significant moves ahead of the U.S. Fed's interest rate decision later in the day and are optimistic about a potential trade deal between the U.S. and China. Asian markets closed mostly lower on Tuesday.

While the Fed is widely expected to lower interest rates by another quarter point, traders will look to the accompanying statement and Fed Chair Jerome Powell's post-meeting comments for clues about the likelihood of further rate cuts.

CME Group's FedWatch Tool is currently indicating a 90.8 percent chance the Fed will lower rates by another quarter point in December, but the views about the chances of further rate cuts in early 2026 are more mixed.

Australian shares are trading notably lower on Wednesday, reversing the losses in the previous session, with the benchmark S&P/ASX 200 falling below the 8,9500 level, despite the broadly positive cues from Wall Street overnight, with weakness in financial and technology stocks partially offset by gains in gold miners.

The benchmark S&P/ASX 200 Index is losing 66.00 points or 0.73 percent to 8,946.50, after hitting a low of 8,933.50 earlier. The broader All Ordinaries Index is down 58.20 points or 0.63 percent to 9,237.60. Australian stocks ended notably lower on Tuesday.

Among major miners, BHP Group and Mineral Resources are gaining almost 1 percent each, while Rio Tinto is edging up 0.3 percent. Fortescue is edging down 0.1 percent.

Oil stocks are mixed. Woodside Energy is losing almost 1 percent and Santos is edging down 0.2 percent, while Beach energy is edging up 0.4 percent and Origin Energy is gaining almost 1 percent.

In the tech space, Afterpay owner Block and WiseTech Global are edging down 0.1 to 0.3 percent each, while Appen is declining more than 3 percent, Xero is losing almost 2 percent and Zip is down more than 1 percent.

Among the big four banks, Commonwealth Bank, Westpac and National Australia bank are losing almost 2 percent each, while ANZ Banking is down almost 1 percent. Among gold miners, Evolution Mining is gaining almost 3 percent, Northern Star Resources is advancing almost 4 percent, Newmont is adding almost 2 percent and Genesis Minerals is edging up 0.4 percent, while Resolute Mining is declining almost 4 percent.

In other news, shares in Boss Energy are jumping almost 17 percent after the US pledge of US$80 billion to expand nuclear reactor purchases. The company's Honeymoon Uranium Project also reported record quarterly production.

In economic news, Australia's monthly Consumer Price Index (CPI) rose 3.5 percent on year in September 2025, up from 3.0 percent in August and above expectations of a 3.1 percent increase. This also marked the highest inflation reading since July 2024.

Annual inflation rate jumped to 3.2 percent in the third quarter of 2025 from 2.1 percent in the second quarter, marking the highest figure since the second quarter of 2024 and surpassing market estimates of 3.0 percent.

In the currency market, the Aussie dollar is trading at $0.659 on Wednesday.

The Japanese stock market is trading sharply higher on Wednesday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving up to be a tad below the 51,250 level, with gains in exporters and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 51,249.82, up 1,030.64 points or 2.05 percent, after touching a high of 51,311.47 earlier. Japanese stocks ended notably lower on Tuesday.

Market heavyweight SoftBank Group is gaining more than 2 percent, while Uniqlo operator Fast Retailing is losing almost 1 percent. Among automakers, Honda and Toyota are edging down 0.3 to 0.5 percent each.

In the tech space, Advantest is jumping more than 20 percent, Screen Holdings is advancing almost 3 percent and Tokyo Electron is gaining more than 3 percent.

In the banking sector, Mizuho Financial and Mitsubishi UFJ Financial are gaining almost 1 percent each, while Sumitomo Mitsui Financial is flat.

Among the major exporters, Mitsubishi Electric is advancing almost 3 percent, Panasonic is gaining more than 2 percent and Canon is adding almost 1 percent, while Sony is declining almost 1 percent.

Among other major gainers, Lasertec is soaring almost 8 percent, Tokuyama is surging almost 7 percent, Fujikura is gaining more than 5 percent and Mitsui Kinzoku is adding almost 5 percent, while Disco and Sumitomo Electric Industries are up more than 4 percent each. Hitachi Construction Machinery and Japan Steel Works are rising more than 3 percent each, while Taiyo Yuden and Hitachi are advancing almost 3 percent each.

Conversely, Nidec is tumbling more than 8 percent, SHIFT is declining almost 5 percent, BayCurrent is losing more than 4 percent and Daiichi Sankyo is down almost 3 percent.

In the currency market, the U.S. dollar is trading in the lower 152 yen-range on Wednesday.

Elsewhere in Asia, Singapore, Malaysia, Indonesia and Taiwan are lower by between 0.3 and 0.5 percent each. South Korea is up 1.4 percent, while New Zealand and China are up 0.2 and 0.1 percent, respectively. Hong Kong is closed for Chung Yeung Day.

On the Wall Street, stocks fluctuated over the course of the trading session on Tuesday but largely maintained a positive bias and ended the day mostly higher. The major averages added to the strong gains posted during Monday's session, once again reaching new record closing highs. The major averages pulled back off their highs in late-day trading but still closed in positive territory. The Nasdaq advanced 190.04 points or 0.8 percent to 23,827.49, the Dow climbed 161.78 points or 0.3 percent to 47,706.37 and the S&P 500 rose 15.73 points or 0.2 percent to 6,890.89.

Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index rose by 0.4 percent, the French CAC 40 Index fell by 0.3 percent and the German DAX Index edged down by 0.1 percent.

Crude oil prices moved sharply lower on Tuesday on news that OPEC is leaning toward another modest increase in production in December. West Texas Intermediate crude for December delivery plunged $1.32 or 2.2 percent to $59.99 a barrel.