CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Wednesday, following the broadly negative cues from Wall Street overnight, as traders remain cautious and seemed reluctant to make significant moves as they watch developments on the tariff front as the deadline of August 1 set by the US President Donald Trump nears. They also look ahead to the US Fed's monetary policy announcement later in the day. Asian markets closed mixed on Tuesday.
While the Fed is expected to leave interest rates unchanged, traders will keep a keen eye on the accompanying statement that could provide insight on the outlook for rates.
Trade deal optimism waned with investors preferring to wait for finalization of agreements though trade talks are ongoing vigorously between the US and its major trading partners.
EU, Japan; Philippines, Indonesia, and UK have struck a best-possible deal with the US so far. High-level officials of China and the US are on intense discussions in Sweden for a broader conclusive trade agreement. Canada, India, Mexico, and South Korea are parleying hectically.
Australian shares are trading notably higher on Wednesday after opening in the red, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving above the 8,750 level, despite the broadly negative cues from Wall Street overnight, with gains in mining and financial stocks partially offset by weakness in energy and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 58.90 points or 0.68 percent to 8,763.50, after hitting a low of 8,688.20 and a high of 8,764.70 earlier. The broader All Ordinaries Index is up 56.00 points or 0.63 percent to 9,022.70. Australian stocks ended slightly higher on Tuesday.
Among major miners, Mineral Resources is gaining almost 4 percent and Fortescue is adding almost 1 percent, while Rio Tinto is edging down 0.2 percent. BHP Group is flat.
Oil stocks are mostly lower. Santos is down almost 1 percent, Origin Energy is edging down 0.5 percent and Beach energy is losing almost 3 percent, while Woodside Energy is gaining almost 1 percent.
In the tech space, Afterpay owner Block is losing almost 3 percent, WiseTech Global is down more than 1 percent, Zip is edging down 0.5 percent and Xero is edging up 0.3 percent.
Appen is tumbling almost 12 percent after the AI data services company reported downbeat second-quarter results, as ongoing uncertainty in the US AI market continues to weigh on performance.
Among the big four banks, Commonwealth Bank and Westpac are gaining more than 1 percent each, while ANZ Banking and National Australia bank are adding almost 1 percent each.
Among gold miners, Evolution Mining is gaining more than 1 percent, Gold Road Resources is edging up 0.5 percent, Northern Star Resources is adding almost 1 percent and Resolute Mining is advancing more than 4 percent, while Newmont is edging down 0.1 percent.
In other news, shares in IGO are slipping almost 7 percent as operational issues continued to impact its Kwinana lithium hydroxide refinery production, with full-year production finishing below guidance.
In the currency market, the Aussie dollar is trading at $0.652 on Wednesday.
The Japanese stock market is slightly higher in choppy trading on Wednesday, reversing some of the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is staying above the 40,650 level, with gains in exporters and financial stocks nearly offset by weakness in automaker stocks and a mixed performance in most other sectors.
The benchmark Nikkei 225 Index closed the morning session at 40,682.14, up 7.59 points or 0.02 percent, after hitting a low of 40,556.61 and a high of 40,744.53 earlier. Japanese stocks ended significantly lower on Tuesday.
Market heavyweight SoftBank Group is gaining more than 1 percent, while Uniqlo operator Fast Retailing is losing more than 1 percent. Among automakers, Honda is declining more than 1 percent and Toyota is losing almost 1 percent.
In the tech space, Advantest is declining 1.5 percent, while Tokyo Electron is gaining almost 1 percent and Screen Holdings is advancing almost 4 percent.
In the banking sector, Sumitomo Mitsui Financial is gaining almost 1 percent and Mitsubishi UFJ Financial is edging up 0.3 percent, while Mizuho Financial is edging down 0.3 percent.
Among the major exporters, Canon is gaining almost 3 percent and Mitsubishi Electric is edging up 0.2 percent, while Panasonic and Sony are flat.
Among other major losers, Keyence, Oji Holdings and ANA Holdings are declining almost 4 percent each, while Shimizu is losing more than 3 percent and Komatsu is down almost 3 percent.
Conversely, Sumitomo Pharma is skyrocketing almost 13 percent, Furukawa Electric is soaring more than 9 percent, Fujikura is rising more than 8 percent and NEC is surging more than 6 percent, while Sumitomo Electric Industries and Tokuyama are gaining almost 4 percent each. Tokyu Fudosan and Toray Industries are advancing almost 3 percent each.
In the currency market, the U.S. dollar is trading in the lower 148 yen-range on Wednesday.
Elsewhere in Asia, New Zealand, China, South Korea and Taiwan are higher by between 0.2 and 0.7 percent each, while Hong Kong, Singapore, Malaysia and Indonesia are lower by between 0.2 and 0.3 percent each.
On the Wall Street, stocks gave back ground over the course of the trading session on Tuesday after failing to sustain an early move to the upside. The major averages pulled back well off their early highs before ending the day in negative territory.
The Dow fell 204.57 points or 0.5 percent to 44,632.99, the Nasdaq declined 80.29 points or 0.4 percent to 21,098.29 and the S&P 500 dipped 18.91 points or 0.3 percent to 6,370.86.
Meanwhile, the major European markets have all moved to the upside on the day. The German DAX Index jumped by 1.0 percent, the French CAC 40 Index advanced by 0.7 percent and the U.K.'s FTSE 100 Index climbed by 0.7 percent.
Crude oil prices moved higher on Tuesday as the U.S. deadline for Russia to finalize an agreement with Ukraine or face sanctions draws nearer. West Texas Intermediate crude for September delivery was up $2.81 or 4.21 percent to $69.52 per barrel.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
