CANBERA (dpa-AFX) - Asian markets are trading mixed on Thursday, following the broadly positive cues from Wall Street overnight, as the US Fed officials reaffirmed their forecast of only one interest rate cut in 2026 after cutting interest rates for the third consecutive time by a quarter point, which was already priced in by the markets. Asian markets closed mostly lower on Wednesday.
While a majority of Fed officials voted to cut rates by another quarter point, three cast dissenting votes for the first time since September 2019. The central bank's latest summary of economic projections also showed significant divisions about the outlook for rates.
The Australian market is trading modestly higher on Thursday, snapping a three-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains across most sectors led by mining and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 23.30 points or 0.27 percent to 8,602.70, after touching a high of 8,658.90 earlier. The broader All Ordinaries Index is up 21.40 points or 0.24 percent to 8,889.60. Australian stocks ended slightly lower on Wednesday.
Among major miners, Rio Tinto is gaining more than 2 percent, Fortescue is adding almost 1 percent, BHP Group is advancing more than 1 percent and Mineral Resources is edging up 0.4 percent.
Oil stocks are mostly higher. Origin Energy and Beach energy are adding almost 1 percent each, while Woodside Energy and Santos are edging up 0.2 to 0.4 percent each.
In the tech space, WiseTech Global is declining almost 2 percent, while Zip, Xero and Appen are losing almost 1 percent each. Afterpay owner Block is adding almost 3 percent.
Among the big four banks, Westpac, National Australia Bank and ANZ Banking are gaining almost 1 percent each, while Commonwealth Bank is edging down 0.5 percent.
Among gold miners, Evolution Mining and Newmont are advancing almost 3 percent each, while Resolute Mining is gaining almost 1 percent, Genesis Minerals is adding almost 2 percent and Northern Star Resources is edging up 0.1 percent.
In other news, shares in Flight Centre Travel Group are jumping almost 6 percent after news it is acquiring the UK-based online cruise agency Iglu, enhancing the company's presence in the lucrative cruise sector.
Shares in Fenix Resources are soaring almost 15 percent after the company revealed an ambitious three-year production strategy, transitioning to the larger Weld Range Project and significantly ramping up its iron ore output.
In economic news, the unemployment rate in Australia came in at a seasonally adjusted 4.3 percent in November, the Australian Bureau of Statistics said on Thursday - unchanged from the October reading and shy of expectations for 4.4 percent. The participation rate was 66.7 percent, missing forecasts for 67.0, which would have been unchanged.
The Australian economy lost 21,300 jobs last month versus expectations for an increase of 20,000 jobs following the addition of 42,200 jobs in the previous month.
In the currency market, the Aussie dollar is trading at $0.667 on Thursday.
The Japanese market is notably lower on Thursday after opening in the green, adding to the slight losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling to near the 50,300 level, with weakness index heavyweights and a mixed performance across most other sectors.
The benchmark Nikkei 225 Index closed the morning session at the day's low of 50,308.89, down 293.91 points or 0.58 percent, after touching a high of 50,875.98 earlier. Japanese shares ended slightly lower on Wednesday.
Market heavyweight SoftBank Group is tumbling almost 7 percent and Uniqlo operator Fast Retailing is edging down 0.4 percent. Among automakers, Toyota is flat and Honda is losing more than 1 percent.
In the tech space, Advantest is gaining almost 4 percent, while Tokyo Electron is losing more than 1 percent and Screen Holdings is declining more than 4 percent.
In the banking sector, Mitsubishi UFJ Financial is edging down 0.3 percent, while Mizuho Financial and Sumitomo Mitsui Financial are edging up 0.2 to 0.3 percent each.
Among the major exporters, Panasonic is gaining almost 4 percent, while Mitsubishi Electric is edging down 0.3 percent, Canon is losing almost 1 percent and Sony is down almost 1 percent.
Among other major losers, Sumitomo Pharma, IHI and Kawasaki Heavy Industries are losing almost 4 percent each, while M3, DeNA, Mitsubishi Heavy Industries and CyberAgent are declining more than 3 percent each. Taiyo Yuden, Tokyo Electric Power, Nintendo, Sumitomo Chemical, Konami Group and Dentsu Group are down almost 3 percent each.
Conversely, Toppan Holdings is surging more than 5 percent and Mitsui & Co. is gaining almost 4 percent, while Chugai Pharmaceutical and Ryohin Keikaku are adding more than 3 percent each. Shiseido and Ebara are advancing almost 3 percent each.
In the currency market, the U.S. dollar is trading in the higher 155 yen-range on Thursday.
Elsewhere in Asia, Hong Kong, Singapore, Malaysia and Indonesia are higher by between 0.2 and 0.4 percent each, while New Zealand, China, South Korea and Taiwan are lower by between 0.1 and 0.7 percent each.
On Wall Street, stocks moved mostly higher in the latter part of the trading day on Wednesday after showing a lack of direction for much of the session, following the Federal Reserve's interest rate decision.
The major averages all moved to the upside on the day after ending Tuesday's choppy trading session narrowly mixed. The Dow jumped 497.46 points or 1.1 percent to 48,057.75, the S&P 500 climbed 46.17 points or 0.7 percent to 6,886.68 and the Nasdaq rose 77.67 points or 0.3 percent to 23,654.16.
Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index inched up by 0.1 percent, the German DAX Index edged down by 0.1 percent and the French CAC 40 Index fell by 0.4 percent.
Crude oil prices edged higher Wednesday after the American Petroleum Institute said U.S. crude inventories decreased much more than expected. West Texas Intermediate crude for January delivery was up $0.20 or 0.34 percent at $58.45 per barrel.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News