CANBERA (dpa-AFX) - Asian stock markets trade mixed on Wednesday, following the mixed cues from Wall Street overnight, after the release of sluggish US jobs data failed to boost expectations for further interest rate cuts by the US Fed. Data showed stronger than expected job growth in November, but the increase followed a notable loss of jobs in October. Asian markets closed mostly lower on Tuesday.
Australian shares are trading slightly lower on Wednesday, adding to the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 falling below the 8,600 level, with weakness in financial and energy stocks partially offset by gains in mining and technology stocks.
The benchmark S&P/ASX 200 Index is losing 10.90 points or 0.13 percent to 8,588.00, after hitting a low of 8,547.10 earlier. The broader All Ordinaries Index is down 3.60 points or 0.04 percent to 8,877.00. Australian stocks ended modestly lower on Tuesday.
Among major miners, Fortescue is gaining almost 1 percent, Mineral Resources is adding more than 3 percent and Rio Tinto is edging up 0.4 percent. BHP Group is flat.
Oil stocks are mostly lower. Santos is down almost 1 percent and Woodside Energy is declining more than 2 percent, while Origin Energy and Beach energy is losing more than 1 percent each.
In the tech space, Afterpay owner Block is adding more than 2 percent, Xero is gaining almost 1 percent and Zip is advancing more than 3 percent, while WiseTech Global is edging down 0.3 percent. Appen is flat.
Among the big four banks, Commonwealth Bank and National Australia bank are losing almost 1 percent each, while Westpac and ANZ Banking are edging down 0.2 percent each.
Among gold miners, Evolution Mining and Northern Star Resources are gaining almost 4 percent each, while Resolute Mining is advancing more than 4 percent, Genesis Minerals is surging more than 5 percent and Newmont adding more than 1 percent.
In other news, shares in GrainCorp are tumbling more than 13 percent after it agreed to sell its interest in GrainsConnect Canada at a loss of between $5 million and $10 million.
Shares in Treasury Wine Estates diving more than 9 percent after the company downgraded its profit outlook, which Citi said was 31 percent below consensus.
Shares in Star Entertainment Group are jumping more than 11 percent the casino and resorts operator revealed leadership changes, with CEO Steve McCann leaving with immediate effect.
Shares in Cedar Woods Properties are soaring almost 10 percent after the property development company announced its second profit outlook upgrade so far this financial year.
In the currency market, the Aussie dollar is trading at $0.663 on Wednesday.
The Japanese stock market is trading modestly higher on Wednesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 49,550 level, with gains in index heavyweights and technology stocks partially offset by weakness in exporter stocks.
The benchmark Nikkei 225 Index closed the morning session at 49,553.71, up 170.42 points or 0.35 percent, after hitting a low of 49,077.81 earlier. Japanese stocks ended sharply lower on Tuesday.
Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is gaining almost 1 percent. Among automakers, Honda is losing almost 1 percent and Toyota is flat.
In the tech space, Advantest is gaining almost 2 percent, Screen Holdings is adding more than 1 percent and Tokyo Electron is edging up 0.5 percent.
In the banking sector, Sumitomo Mitsui Financial is gaining almost 1 percent and Mizuho Financial is adding more than 1 percwnt, while Mitsubishi UFJ Financial is edging down 0.4 percent.
Among the major exporters, Mitsubishi Electric is declining more than 1 percent and Canon is edging down 0.4 percent, while Sony and Panasonic are losing almost 1 percent each.
Among other major gainers, Dowa Holdings is soaring almost 7 percent, Sumitomo Metal Mining is surging more than 5 percent and Mitsui Kinzoku is advancing almost 3 percent each.
Conversely, Nissui is declining more than 5 percent, while Nikon, NTN and Eisai are losing almost 3 percent each.
In economic news, the value of core machinery orders in Japan was up a seasonally adjusted 7.0 percent on month in October, the Cabinet Office said on Wednesday - coming in at 992.9 billion yen. That beat forecasts for a decline of 1.8 percent following the 4.2 percent increase in September. On a yearly basis, orders were up 12.5 percent - again surpassing expectations for 3.6 percent and up from 11.6 percent in the previous month.
For the fourth quarter of 2025, core machinery orders are expected to slip 0.9 percent on quarter and rise 2.2 percent on year at 9.474 trillion yen. The total value of machinery orders received by 280 manufacturers operating in Japan decreased a seasonally adjusted 6.8 percent on month and 9.9 percent on year.
Meanwhile, Japan posted a merchandise trade surplus of 322.2 billion yen in November, the Ministry of Finance said on Wednesday. That beat forecasts for a surplus of 71.2 billion yen following the 226.1 billion yen shortfall in October.
Exports were up 6.1 percent on year at 9.714trillion yen, topping forecasts for 4.8 percent and up from 3.6 percent a month earlier. Imports rose an annual 1.3 percent to 9.392 trillion yen versus forecasts for an increase of 2.5 percent but still up from 0.7 percent in October.
In the currency market, the U.S. dollar is trading in the higher 154 yen-range on Wednesday.
Elsewhere in Asia, Hong Kong, South Korea, Indonesia and Taiwan are higher by between 0.1 and 0.6 percent each, while New Zealand, Singapore and Malaysia are lower by between 0.2 and 0.5 percent each. China is relatively flat.
On the Wall Street, stocks continued to experience choppy trading on Tuesday following the lackluster performance seen in the previous session. The major averages fluctuated over the course of the trading day before eventually closing on opposite sides of the unchanged line.
While the tech-heavy Nasdaq rose 54.05 points or 0.2 percent to 23,111.46, the S&P 500 slipped 16.25 points or 0.2 percent to 6,800.26 and the Dow slid 302.30 points or 0.6 percent to 48,114.26.
Meanwhile, the major European markets moved to the downside on the day. While the U.K.'s FTSE 100 Index slid 0.7 percent, the German DAX Index fell by 0.6 percent and the French CAC 40 Index dipped by 0.2 percent.
Crude oil prices extended recent losses Tuesday on lingering oversupply concerns, especially if an end to hostilities between Russia and Ukraine could exacerbate the supply glut. West Texas Intermediate crude for January delivery was down $1.57 or 2.8 percent to $55.25 per barrel.
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