Asian Markets Trade Mixed

(RTTNews) - Asian stock markets are trading mixed on Wednesday, following the broadly negative cues from Wall Street overnight, as hotter-than-expected US inflation data led to renewed concerns about the outlook for interest rates. Meanwhile, crude oil prices declined as concerns of U.S.-Iran re-escalation faded after U.S. President Donald Trump agreed to maintain a status quo in the Middle East crisis. Asian markets closed mostly higher on Tuesday.

While Qatar's efforts to seek a diplomatic solution continue, Trump has decided to enforce the economic and naval blockade against Iran and put a pause on any military confrontation.

Trump messaged through Truth Social that he agreed to maintain the status quo at the request of Iran's neighbors, but the current naval blockade and the new Operation Iron Gate will continue to be in force.

U.S. Secretary of State Marco Rubio also observed that the U.S. economic sanctions and naval blockade are working so well that there would be no need for a major combat operation against Iran.

Elsewhere in the Middle East, the Houthi-Saudi Arabia conflict kept the Middle East tensions alive.

Australian shares are modestly higher in choppy trading on Wednesday after opening in the red, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving up to near the 9,150 level, despite the broadly negative cues from Wall Street overnight, with gains in energy, financial and technology stocks partially offset by weakness in mining stocks.

The benchmark S&P/ASX 200 Index is gaining 16.50 points or 0.18 percent to 9,145.50, after hitting a low of 9,084.70 and a high of 9,147.20 earlier. The broader All Ordinaries Index is up 17.80 points or 0.19 percent to 9,285.60. Australian stocks ended significantly higher on Tuesday.

Among major miners, BHP Group is edging down 0.5 percent and Fortescue is down almost 1 percent, while Mineral Resources and Rio Tinto are losing more than 1 percent each.

Oil stocks are mostly higher. Woodside Energy, Beach energy and Santos are gaining almost 1 percent each, while Origin Energy is edging up 0.2 percent.

In the tech space, Afterpay owner Block is losing more than 2 percent, while Appen is gaining almost 1 percent, WiseTech Global is edging up 0.2 percent, Zip is advancing almost 3 percent and Xero is adding more than 1 percent.

Among the big four banks, Commonwealth Bank is edging up 0.4 percent, ANZ Banking is gaining more than 1 percent and Westpac is adding almost 1 percent, while National Australia bank is down almost 1 percent.

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

In other news, shares in IDP are soaring more than 18 percent after it received a sweetened, unsolicited cash takeover proposal from Blackstone valued at A$3.00 per share.

Shares in GQG Partners are plunging more than 12 percent following a heavy monthly update revealing massive investor redemptions.

In economic news, the value of new owner-occupier loan commitments for dwellings in Australia fell 5.3 percent on quarter to AUD 56.45 billion in the third quarter of 2026, the lowest in five quarters, deepening from a marginally revised 2.0 percent decline in the previous period.

On an annual basis, owner-occupier lending dipped 4.6 percent. Meanwhile, investment lending for housing tumbled 32.3 percent to AUD 24.71 billion, its lowest level in three years, steeper than a 11.2 percent decline in the second quarter. On a yearly basis, investment loan values plunged 38.1 percent.

In the currency market, the Aussie dollar is trading at $0.688 on Wednesday.

The Japanese stock market is trading notably higher on Wednesday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The Nikkei 225 is moving up to near the 60,950 level, with gains in financial and technology stocks partially offset by weakness in automaker stocks.

The benchmark Nikkei 225 Index closed the morning session at 60,942.48, up 482.90 points or 0.80 percent, after touching a high of 61,244.00 earlier. Japanese stocks ended sharply higher on Tuesday.

Market heavyweight SoftBank Group is tumbling almost 4 percent, while Uniqlo operator Fast Retailing is edging up 0.4 percent. Among automakers, Honda is losing more than 4 percent and Toyota is down almost 1 percent.

In the tech space, Advantest is advancing almost 3 percent, while Tokyo Electron and Screen Holdings are gaining more than 2 percent each.

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

Among the major exporters, Mitsubishi Electric is gaining almost 1 percent, Sony is edging up 0.3 percent and Panasonic is adding more than 1 percent. Canon is flat.

Among other major gainers, Nichirei is soaring almost 8 percent and Sumitomo Realty & Development is jumping almost 7 percent, Toray Industries and Kokusai Electric are surging more than 6 percent each. Fukuoka Financial and Taiyo Yuden are rising almost 5 percent each, while NEXON, Furukawa Electric and Socionext are advancing more than 4 percent each. Shiseido, NEC and Yokohama Financial are gaining more than 3 percent each, while Renesas Electronics, Japan Steel Works and Lasertec are adding almost 3 percent each.

Conversely, Mitsui Kinzoku is plunging more than 8 percent and Tokyu is tumbling more than 6 percent, while Sumitomo Metal Mining, Omron and DeNA are slipping almost 6 percent each. Subaru is declining almost 5 percent, Sharp is sliding more than 4 percent. Suzuki Motor is losing almost 4 percent, BayCurrent is declining more than 3 percent and Konami Group is down almost 3 percent.

In economic news, the Reuters Tankan index for Japanese manufacturers rose for the fourth consecutive month to +27 in November 2026, from +22 in the previous month, marking its highest reading since August 2021. Meanwhile, non-manufacturers' sentiment increased to +35, the highest since June 2018, from +23, which was the lowest reading since November 2024

Looking three months ahead, manufacturers expect sentiment to improve to +28, while non-manufacturers expect sentiment to weaken to +29.

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

Elsewhere in Asia, New Zealand, China, Hong Kong, Malaysia and Indonesia are lower by between 0.1 and 0.7 percent each. Taiwan is surging 1.2 percent, while Singapore and South Korea are up 0.3 and 0.70 percent, respectively.

On Wall Street, stock moved mostly lower during trading on Tuesday giving back ground following the substantial rally seen to start the week. The major averages all moved to the downside, although selling pressure appeared relatively subdued.

The major averages ended the day well off their worst levels but still in negative territory. The Nasdaq slid 187.26 points or 0.7 percent to 25,065.87, the S&P 500 fell 29.01 points or 0.4 percent to 7,520.93 and the Dow dipped 157.86 points or 0.3 percent to 52,231.89. Meanwhile, the major European markets turned mixed over the course of the session. While the French CAC 40 Index fell 0.3 percent, the German DAX Index rose by 0.3 percent and the French CAC 40 Index climbed by 0.6 percent.

Crude oil prices turned lower on Tuesday as concerns of U.S.-Iran re-escalation faded after U.S. President Donald Trump agreed to maintain a status quo in the U.S.-Iran crisis. West Texas Intermediate crude for December delivery was down $0.97 or 1.12 percent at $85.88 per barrel.