CANBERA (dpa-AFX) - Asian stock markets are mostly higher on Thursday as optimism that the U.S. and China will reach a trade deal soon helped offset worries about a U.S. Presidential impeachment. In addition, the U.S. and Japan signed a limited trade deal on Wednesday, under which Japan will open new markets to about $7 billion in U.S. agricultural products.
The Australian market slipped into negative territory after opening higher following the positive cues from Wall Street and on optimism about a US-China trade deal.
The benchmark S&P/ASX 200 Index is declining 6.30 points or 0.09 percent to 6,703.90, after rising to a high of 6,720.80 earlier. The broader All Ordinaries Index is down 2.70 points or 0.04 percent to 6,812.00. Australian stocks closed lower on Wednesday.
Gold miner Evolution Mining is losing more than 3 percent and Newcrest Mining is lower by almost 3 percent after gold prices declined overnight.
Oil stocks are also mostly lower after crude oil prices extended losses overnight. Oil Search and Woodside Petroleum are lower by 0.3 percent each, while Santos is adding 0.2 percent.
The major miners are higher. Fortescue Metals and BHP Billiton are advancing almost 1 percent each, while Rio Tinto is adding 0.3 percent.
The big four banks - ANZ Banking, National Australia Bank, Commonwealth Bank and Westpac - are up in a range of 0.1 percent to 0.3 percent.
Woolworths will provide a $4 million loan to Germany-based global meal kit provider Marley Spoon AG, while U.S.-based venture capital firm Union Square Ventures will also inject $4 million. Shares of Woolworths are adding 0.5 percent, while Marley Spoon's shares are gaining almost 7 percent.
On the economic front, Australia will see August numbers for job vacancies today.
In the currency market, the Australian dollar is lower against the U.S. dollar on Thursday. The local currency was quoted at $0.6752, compared to $0.6780 on Wednesday.
The Japanese market is rising following the gains on Wall Street and on news that the U.S. and Japan have reached an initial trade deal. Investor sentiment was also buoyed by optimism that the U.S. and China will reach a trade deal soon.
The benchmark Nikkei 225 Index is adding 102.45 points or 0.47 percent to 22,122.60, after touching a high of 22,184.91 in early trades. Japanese stocks declined on Wednesday.
The major exporters are mostly higher on a weaker yen. Mitsubishi Electric is rising more than 1 percent, Panasonic is advancing almost 1 percent and Canon is adding 0.6 percent, while Sony is declining 0.7 percent.
In the tech space, Advantest is declining more than 1 percent, while Tokyo Electron is adding more than 1 percent. In the auto sector, Toyota Motor is higher by 1 percent and Honda Motor is rising more than 1 percent.
Market heavyweight SoftBank is advancing more than 1 percent, while Fast Retailing is lower 1 percent.
Among oil stocks, Inpex is declining almost 1 percent and Japan Petroleum is lower by 0.4 percent after crude oil prices extended losses overnight.
Among the other major gainers, Kawasaki Kisen Kaisha is rising more than 5 percent, JFE Holdings is gaining almost 5 percent and Japan Steel Works is higher by more than 4 percent.
On the flip side, Dena Co. is losing almost 2 percent.
On the economic front, Japan will provide final August numbers for machine tool orders today.
In the currency market, the U.S. dollar is trading in the upper 107 yen-range on Thursday.
Elsewhere in Asia, South Korea, Indonesia, Malaysia, Hong Kong and Taiwan are also higher, while New Zealand, Shanghai and Singapore are modestly lower.
On Wall Street, stocks closed higher on Wednesday following the release of the transcript of U.S. President Donald Trump's controversial call with Ukrainian President Volodymyr Zelensky. The transcript confirmed Trump discussed a possible investigation of former Vice President and Democratic frontrunner Joe Biden in the call with Zelensky, although he does not directly link the issue to U.S. aid.
The Dow climbed 162.94 points or 0.6 percent to 26,970.71, the Nasdaq jumped 83.76 points or 1.1 percent to 8,077.39 and the S&P 500 rose 18.27 points or 0.6 percent to 2,984.87.
The major European markets also moved to the downside on Wednesday. While the U.K.'s FTSE 100 Index closed just below the unchanged line, the German DAX Index fell by 0.6 percent and the French CAC 40 Index slid by 0.8 percent.
Crude oil prices drifted lower on Wednesday after data showed a jump in U.S. crude inventories for a second successive week. WTI crude for November ended down $0.80 or 1.4 percent at $56.49 a barrel.
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