CANBERA (dpa-AFX) - Asian markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, reflecting the growing concerns about rising geopolitical tensions around the world, with US President Donald Trump's threats to take control of Greenland, the political unrest in Iran and the ongoing Russia-Ukraine war. Traders also may be booking some profits following the recent record global rally in equities. Asian markets closed mostly higher on Wednesday.
The Australian market is trading modestly higher on Thursday, extending the gains in the previous three sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,850 level, with gains in mining stocks tracking higher bullion and iron ore prices. Most other sectors displayed a mixed performance.
The benchmark S&P/ASX 200 Index is gaining 24.30 points or 0.28 percent to 8,844.90, after touching a high of 8,881.00 earlier. The broader All Ordinaries Index is up 19.10 points or 0.21 percent to 9,170.90. Australian stocks ended slightly higher on Wednesday.
Among major miners, Rio Tinto is gaining 1.5 percent and Fortescue is edging up 0.5 percent, while BHP Group and Mineral Resources are advancing almost 3 percent each.
Oil stocks are mostly lower. Santos is edging down 0.2 percent, Beach energy is declining almost 4 percent and Origin Energy is losing almost 1 percent, while Woodside Energy is edging up 0.4 percent.
In the tech space, WiseTech Global is edging up 0.1 percent and Appen is advancing almost 3 percent. Xero is losing more than 2 percent, while Afterpay owner Block and Zip are declining more than 3 percent each.
Among the big four banks, ANZ Banking is gaining almost 1 percent, while National Australia Bank and Westpac are edging up 0.1 to 0.4 percent each. Commonwealth Bank is losing almost 1 percent.
Among gold miners, Resolute Mining is edging up 0.5 percent, Evolution Mining is gaining almost 1 percent and Northern Star Resources is advancing almost 2 percent, while Genesis Minerals is down almost 1 percent and Newmont is edging down 0.4 percent.
In the currency market, the Aussie dollar is trading at $0.668 on Thursday.
The Japanese market is significantly lower on Thursday, snapping the three-session winning streak, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 53,850 level, with weakness in index heavyweights and technology stocks.
The benchmark Nikkei 225 Index closed the morning session at 53,820.46, down 520.77 points or 0.96 percent, after hitting a low of 53,709.87 earlier. Japanese shares ended sharply higher on Wednesday.
Market heavyweight SoftBank Group is losing more than 4 percent and Uniqlo operator Fast Retailing is edging down 0.2 percent. Among automakers, Toyota is gaining more than 1 percent, while Honda is losing almost 1 percent.
In the tech space, Advantest is declining more than 4 percent, Screen Holdings is down almost 3 percent and Tokyo Electron is losing almost 4 percent.
In the banking sector, Mitsubishi UFJ Financial is gaining almost 1 percent and Sumitomo Mitsui Financial is edging up 0.1 percent, while Mizuho Financial is losing almost 1 percent.
Among the major exporters, Mitsubishi Electric is losing more than 1 percent and Canon is edging down 0.2 percent, while Panasonic is gaining almost 1 percent and Sony is adding more than 2 percent.
Among other major losers, SHIFT is tumbling more than 6 percent and Disco is slipping almost 4 percent, while Socionext and Nissan Motor are losing more than 3 percent each. Sharp, Renesas Electronics and Yaskawa Electric are declining almost 3 percent each.
Conversely, Ryohin Keikaku is soaring almost 12 percent and Toho is surging more than 7 percent, while Shiseido is gaining more than 4 percent. Nintendo is advancing almost 4 percent, while GS Yuasa, Resonac Holdings and Shin-Etsu Chemical are gaining more than 3 percent each. NEXON and Resona Holdings are adding almost 3 percent each.
In economic news, producer prices in Japan were up 0.1 percent on month in December, the Bank pf Japan said on Thursday. That was in line with expectations and down from 0.3 percent in November.
On a yearly basis, producer prices climbed 2.4 percent - again matching forecasts and down from 2.7 percent in the previous month. Export prices were up 1.0 percent on month and 2.6 percent on year, the bank said, while import prices rose 0.6 percent on month but fell 1.5 percent on year.
In the currency market, the U.S. dollar is trading in the lower 158 yen-range on Thursday.
Elsewhere in Asia, New Zealand, China, Singapore, Malaysia and Taiwan are lower by between 0.2 and 0.7 percent each, while Hong Kong, South Korea and Indonesia are higher by between 0.1 and 0.7 percent each.
On Wall Street, stocks saw further downside during the trading day on Wednesday following the modest pullback seen during Tuesday's session. The major averages regained some ground after an early tumble but still all ended the day in negative territory.
The tech-heavy Nasdaq led the way lower, slumping 238.12 points or 1.0 percent to 23,471.75. The S&P 500 also fell 37.14 points or 0.5 percent to 6,926.60, while the Dow edged down 42.36 points or 0.1 percent to 49,149.63.
Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index rose by 0.5 percent, the French CAC 40 Index dipped by 0.2 percent and the German DAX Index fell by 0.5 percent.
Crude oil prices posted sharp gains Wednesday as the probability of U.S. intervention to end the crisis in Iran raises supply-related concerns. West Texas Intermediate crude for February delivery was up $0.76 or 1.24 percent at $61.91 per barrel.
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