CANBERA (dpa-AFX) - Asian markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, as traders seemed reluctant to make significant moves amid concerns about the escalating Middle East conflict between the U.S. and Iran and the related surging crude oil prices after shipping traffic across the Strait of Hormuz has vastly diminished. Asian markets closed mixed on Wednesday.
The conflict between the U.S. and Iran shows no signs of letting up. The U.S. Central Command said it successfully completed the 12th consecutive evening of strikes against Iran.
Iran is yet to respond to reports of being offered a 10-day ceasefire plan to revive the June 17 MoU through intermediaries. With Qatar's support, Pakistan is exploring ways to end the U.S.-Iran conflict and help resume the stalled negotiations.
Warning that any further Iranian strike on a ship transiting across the Strait of Hormuz would compel U.S. forces to destroy a bridge or a power plant in Iran, Trump also threatened that the U.S. military will bomb Iran's Pickaxe Mountain.
Iran counter-warned that any such attempt would be treated as an expansion of the war in the region. Iran vowed to strike back at U.S. allies and military bases across the Middle East.
The Australian market is trading notably higher on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,850 level, with gains is iron ore miners and energy stocks partially offset by weakness in gold miners, financial and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 59.70 points or 0.68 percent to 8,882.70, after touching a high of 8,926.30 earlier. The broader All Ordinaries Index is up 57.80 points or 0.64 percent to 9,062.70. Australian stocks ended modestly higher on Wednesday.
Among major miners, BHP Group, Rio Tinto and Fortescue are gaining more than 1 percent each, while Mineral Resources is advancing more than 3 percent.
Oil stocks are mostly higher. Woodside Energy and Santos are gaining almost 1 percent each, while Origin Energy is adding almost 2 percent. Beach energy is flat.
In the tech space, Afterpay owner Block and Xero are losing more than 2 percent each, while Appen is slipping almost 2 percent, and WiseTech Global is declining more than 3 percent. Zip is gaining more than 1 percent.
Among the big four banks, Commonwealth Bank, ANZ Banking and Westpac are losing more than 1 percent each, while National Australia Bank is declining almost 2 percent.
Among gold miners, Newmont is losing more than 1 percent, Resolute Mining is slipping more than 2 percent and Genesis Minerals is down more than 2 percent, while Northern Star Resources and Evolution Mining are declining almost 3 percent each.
In economic news, Australia's seasonally adjusted unemployment rate stood at 4.4 percent in June, in line with both market expectations and May's figure. The number of unemployed rose by 12,700 to 686,800 from 674,100 in May. Employment increased by 76,300 to a record high of 14.82 million, surpassing estimates of a 15,000 increase, following an upwardly revised gain of 43,900 jobs in May. The participation rate ticked up to 67.0% from both May's figure and market expectations of 66.7%, marking its highest level since July 2025.
In the currency market, the Aussie dollar is trading at $0.701 on Thursday.
The Japanese market is trading notably higher on Thursday, reversing the losses in the previous session, despite the broadly negative cues from Wall Street overnight. The Nikkei 225 is moving above the 66,400 level, with gains in financial and technology stocks partially offset by weakness in automaker and exporter stocks.
The benchmark Nikkei 225 Index closed the morning session at 66,424.44, up 308.84 points or 0.47 percent, after touching a high of 67,022.37 earlier. Japanese stocks ended modestly lower on Wednesday.
Market heavyweight SoftBank Group is edging up 0.1 percent, while Uniqlo operator Fast Retailing is losing more than 1 percent. Among automakers, Toyota is edging down 0.2 percent and Honda is also edging down 0.3 percent.
In the tech space, Advantest is jumping almost 6 percent, while Screen Holdings and Tokyo Electron are advancing almost 3 percent each.
In the banking sector, Mizuho Financial is advancing almost 3 percent, while Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are gaining almost 2 percent each.
Among the major exporters, Mitsubishi Electric is gaining more than 2 percent. Panasonic is losing almost 1 percent, while Sony and Canon are edging down 0.2 to 0.5 percent each.
Among other major gainers, Lasertec is soaring more than 8 percent, while Disco, Murata Manufacturing and Sumitomo Metal Mining are surging almost 5 percent each. Ebara, IHI, Sumco and Toppan Holdings are advancing almost 4 percent each, while Socionext, Yaskawa Electric and Renesas Electronics are gaining more than 3 percent each. Resonac Holdings is adding almost 3 percent.
Conversely, Mitsubishi Motors is declining almost 5 percent, SHIFT is losing more than 4 percent and Sumitomo Realty & Development is down more than 3 percent.
In the currency market, the U.S. dollar is trading in the lower 163 yen-range on Thursday.
Elsewhere in Asia, South Korea is surging 2.5 percent, while Hong Kong and Indonesia are up 0.9 and 0.7 percent, respectively. New Zealand, Singapore, Malaysia and Taiwan are lower by between 0.1 and 0.5 percent each. China is relatively flat.
On Wall Street, stocks showed a lack of direction over the course of the trading day on Wednesday following the strength seen in the previous session. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing in negative territory.
The Nasdaq slid 146.30 points or 0.6 percent to 25,690.90 and the S&P 500 edged down 10.24 points or 0.1 percent to 7,498.96. The narrower Dow spent most of the day in positive territory but closed down 6.06 points or less than a tenth of a percent at 52,218.58.
Meanwhile, the major European markets all moved to the upside on the day. While the U.K.'s FTSE 100 Index jumped by 1.2 percent, the French CAC 40 Index advanced by 0.9 percent and the German DAX Index climbed by 0.6 percent.
Crude oil prices jumped again on Wednesday on supply disruption concerns as the conflict between the U.S. and Iran shows no sings of letting up. West Texas Intermediate crude for September delivery was up $2.62 or 3.11 percent at $86.96 per barrel.
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