Asian Markets Trade Mostly Higher

(RTTNews) - Asian markets are mostly higher on Thursday, following the mixed cues from Wall Street overnight, boosted by technology shares which mirrored their peers on tech-heavy Nasdaq amid optimism over AI-driven demand. Concerns remain about a re-escalation in the Middle East conflict after the U.S. and Iran exchanged fresh strikes, with US President Donald Trump declaring the U.S.-Iran ceasefire "over." Asian markets closed mostly lower on Wednesday.

"As far as I'm concerned, it's over," Trump told reporters at the NATO summit in Ankara, Turkey, calling negotiations with Iran a "waste of time." He later said the U.S. will "very probably" attack Iran "hard again tonight."

U.S. Central Command said it completed a new round of offensive strikes against Iran for the second straight day, hitting over 80 targets in response to Iran's latest attacks on commercial vessels transiting the Strait of Hormuz.

Meanwhile, the minutes of the US Fed's latest monetary policy meeting confirmed officials have mixed views about the outlook for rates but did not provide much clarity about the central bank's next move.

The Australian market is trading notably lower on Thursday, extending the losses in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,750 level, with weakness across most sectors led by gold miners and technology stocks.

The benchmark S&P/ASX 200 Index is losing 49.40 points or 0.56 percent to 8,735.70, after hitting a low of 8,700.50 earlier. The broader All Ordinaries Index is down 44.90 points or 0.50 percent to 8,934.40. Australian stocks ended significantly lower on Wednesday.

Among major miners, BHP Group and Fortescue are declining more than 1 percent each, while Rio Tinto is losing almost 4 percent and Mineral Resources is edging down 0.5 percent.

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

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

Among the big four banks, Commonwealth Bank, ANZ Banking and National Australia Bank are losing more than 1 percent each, while Westpac is down almost 1 percent.

Among gold miners, Newmont is losing more than 2 percent, Northern Star Resources is slipping more than 3 percent, Genesis Minerals is down more than 1 percent, Evolution Mining is declining almost 3 percent and Resolute Mining is sliding almost 4 percent.

In other news, shares in Fletcher Building are surging more than 5 percent after it raised FY26 profit guidance as quarterly volumes rise, flagged caution for early FY27.

In the currency market, the Aussie dollar is trading at $0.693 on Thursday.

The Japanese market is trading sharply higher on Thursday, snapping the three-session losing streak, following the mixed cues from Wall Street overnight. The Nikkei 225 is surging 2 percent to well above the 68,150 level, with gains in technology stocks partially offset by weakness in financial and automaker stocks.

The benchmark Nikkei 225 Index closed the morning session at 68,180.55, up 1,361.50 points or 2.04 percent, after touching a high of 68,447.89 earlier. Japanese stocks ended sharply lower on Wednesday.

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

In the tech space, Advantest is jumping almost 8 percent, while Screen Holdings and Tokyo Electron are surging almost 6 percent each.

In the banking sector, Mizuho Financial is edging down 0.1 percent, while Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are losing almost 1 percent.

Among the major exporters, Mitsubishi Electric is gaining more than 1 percent and Panasonic is surging more than 5 percent, while Sony is losing almost 2 percent. Canon is flat.

Among other major gainers, Kioxia Holdings is soaring more than 10 percent and Ibiden is jumping more than 6 percent, while Mitsui Kinzoku and Fujikura are surging almost 6 percent each. Renesas Electronics and Murata Manufacturing are advancing more than 5 percent each, while Disco, Resonac Holdings and Yaskawa Electric are gaining more than 4 percent each. Socionext and Sumco are adding more than 3 percent each.

Conversely, Mitsubishi Materials is tumbling almost 7 percent, Yokohama Rubber is declining more than 4 percent and Daiwa Securities is losing more than 3 percent, while Aeon, Tokyo Electric Power, Suzuki Motor and Nissan Motor are down almost 3 percent each.

In the currency market, the U.S. dollar is trading in the lower 162 yen-range on Thursday.

Elsewhere in Asia, South Korea is surging 1.7 percent, while New Zealand, Singapore, Taiwan and Indonesia are higher by between 0.1 and 0.7 percent each. China Hong Kong and Malaysia are lower by between 0.1 and 0.3 percent each. On Wall Street, stocks regained ground over the course of the trading day on Wednesday after moving sharply lower early in the session. The major averages climbed well off their lows of the session, with the Nasdaq reaching positive territory.

The Dow slumped 576.76 points or 1.1 percent to 52,348.39, pulling back further off their record closing high set on Monday. The S&P 500 also fell 21.14 points or 0.3 percent to 7,482.71, but the Nasdaq rose 51.96 points or 0.2 percent to 25,870.65.

Meanwhile, the major European markets moved to the downside on the day. While the U.K.'s FSE 100 Index slumped by 1.7 percent, the French CAC 40 Index and the German DAX Index both plunged by 2.2 percent.

Crude oil prices skyrocketed on Wednesday amid renewed Middle East tensions after the U.S. and Iran exchanged fresh strikes. West Texas Intermediate crude for August delivery was up $3.16 or 4.49 percent at $73.60 per barrel.