Asian Markets Trade Mixed

(RTTNews) - Asian stock markets are trading mixed on Thursday, following the mixed cues from Wall Street overnight, as crude oil prices rebounded amid lingering uncertainty about U.S. and Iran reaching a deal to end their prolonged conflict anytime soon and reopen the Strait of Hormuz. Efforts by Qatari mediators to broker a diplomatic breakthrough between the U.S. and Iran have made little progress. Asian markets closed mostly higher on Wednesday.

Release of data shows that consumer prices in the U.S. rose less than expected in August, with the data reducing the chances the US Fed will raise interest rates later this month. However, concerns remain that persistent energy-driven inflation could prompt tighter monetary policy.

The Australian market is trading sharply lower on Thursday, snapping a three-session winning streak, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,650 level, with weakness across most sectors led by mining and financial stocks.

The benchmark S&P/ASX 200 Index is losing 145.70 points or 1.66 percent to 8,643.60, after hitting a low of 8,641.30 earlier. The broader All Ordinaries Index is down 144.90 points or 1.62 percent to 8,824.30. Australian stocks ended significantly higher on Wednesday.

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

Oil stocks are mostly lower. Woodside Energy and Beach energy are down more than 1 percent each, while Origin Energy and Santos are losing almost 1 percent each.

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

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

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

In other news, shares in Meteoric Resources are skyrocketing 53 percent after agreeing to be acquired by Lynas Rare Earths for $968 million. Lynas shares are down almost 5 percent.

In economic news, the manufacturing sector in Australia fell into contraction territory in September, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 49.6. That's down from 52.0 in August and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.

In the currency market, the Aussie dollar is trading at $0.694 on Thursday.

The Japanese market is trading sharply higher on Thursday, extending the gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 68,350 level, with gains in index heavyweights and technology stocks partially offset by weakness in automakers and financial stocks.

The benchmark Nikkei 225 Index closed the morning session at 68,355.81, up 1,602.09 points or 2.40 percent, after touching a high of 68,359.41 earlier. Japanese stocks ended sharply higher on Wednesday.

Market heavyweight SoftBank Group is gaining more than 3 percent and Uniqlo operator Fast Retailing is adding almost 2 percent. Among automakers, Toyota is edging down 0.5 percent and Honda is losing almost 1 percent.

In the tech space, Advantest is surging more than 6 percent, while Screen Holdings and Tokyo Electron are gaining almost 3 percent each.

In the banking sector, Mizuho Financial is losing almost 2 percent, Mitsubishi UFJ Financial is declining more than 3 percent and Sumitomo Mitsui Financial is down almost 3 percent.

Among the major exporters, Mitsubishi Electric is gaining almost 1 percent and Sony is edging up 0.4 percent, while Canon is edging down 0.2 percent and Panasonic is losing more than 1 percent.

Among other major gainers, Lasertec is jumping more than 6 percent, Murata Manufacturing is surging more than 5 percent and Mitsui Kinzoku is advancing more than 4 percent, while Kioxia Holdings, Sumco, Disco and Taiyo Yuden are gaining more than 3 percent each. Socionext is adding almost 3 percent.

Conversely, Tokio Marine and Crasus Chemical are declining almost 5 percent each, while Fukuoka Financial and T&D Holdings are losing almost 4 percent each. Resona Holdings, Dai-ichi Life and Kubota are slipping more than 3 percent each, while Shizuoka Financial, Yamato Holdings, Japan Airlines, Chiba Bank and Kawasaki Kisen Kaisha are down almost 3 percent each.

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

The Bank of Japan's quarterly Tankan Survey of business sentiment showed that large manufacturing in Japan accelerated in the third quarter of 2026, with a diffusion index score of +24. That missed forecasts for +25 but was still up from +22 in the previous three months. The outlook came in at +21, also missing forecasts for +22 but still up from +17 in the previous quarter.

The large non-manufacturers index came in at +35, missing forecasts for +36 and down from +37 in the three months prior. The outlook was +30, matching expectations and up from +28 in the previous quarter.

The small manufacturing index rose to +14 from +9, while the outlook jumped to +12 from +2. The small non-manufacturing index was steady at +15, while the outlook improved to +10 from +8. Large industry capex is seen higher by 11.3 percent, down from 11.5 percent in Q2. Small industry capex was down 4.7 percent after slumping 8.3 percent in the three months prior.

In the currency market, the U.S. dollar is trading in the lower 158 yen-range on Thursday.

Elsewhere in Asia, New Zealand, Malaysia and Indonesia are lower by between 0.2 and 0.9 percent each, while Singapore and South Korea are up 0.3 and 0.5 percent, respectively. China and Hong Kong are closed for the National Day holiday. Taiwan is relatively flat. On Wall Street, stocks moved mostly higher in early trading on Wednesday but gave back ground over the course of the session. The major averages pulled back well off their highs as the day progressed, with the Dow and S&P 500 sliding into negative territory.

The Dow and the S&P 500 ended the session at their worst levels of the day. The Dow slid 443.87 points or 0.9 percent to 50,906.05 and the S&P 500 fell 19.30 points or 0.3 percent to 7,651.54. Meanwhile, the tech-heavy Nasdaq pulled back well off its best levels of the day but still closed up 63.52 points or 0.2 percent at 26,861.06.

Meanwhile, the major European markets moved to the downside on the day. While the U.K.'s FTSE 100 Index fell by 0.3 percent, the German DAX Index slid by 0.8 percent and the French CAC 40 Index slumped by 0.9 percent.

Crude oil prices rebounded on Wednesday amid lingering uncertainty that the U.S. and Iran will reach a deal to end their prolonged conflict. West Texas Intermediate crude for November delivery climbed $1.02 or 1.1 percent to $90.40 a barrel.