Asian stock markets are mostly trading higher on Thursday, tracking cues from Wall Street where the major averages ended on a firm note overnight following a positive reaction to results from Alcoa. However, buying interest is somewhat subdued in some of the markets in the region due to some disappointing economic data.
The Australian market is marginally higher, with consumer discretionary, mining and property trusts stocks finding some support. The mood is a bit cautious following a notable rise in unemployment.
The benchmark S&P/ASX 200 index is up 9.6 points or 0.2 percent at 5,462.1. The broader All Ordinaries index is at 5,452.1, up 9.9 points or 0.2 percent from its previous close.
Navitas is rising 3.7 percent, after plunging sharply in the previous session. Newcrest Mining is advancing 3.2 percent.
Mineral Resources, Scentre Group and Myer Holdings are up 2 to 2.6 percent. Leighton Holdings, Recall Holdings, Monadelphous Group, JB Hi-Fi and Aristocrat Leisure are moving up 1.5 to 1.8 percent.
Transurban Group shares are modestly higher after the company reported a 13 percent rise in toll revenues for the April - June quarter.
Meanwhile, Arrium is down over 3 percent. Amcor, Henderson Group, Alumina (AWC), Beach Energy, Coca-Cola Amatil and Incitec Pivot are declining 1 to 1.5 percent.
In economic news, Australia's unemployment rate increased in June as the number of people looking for full-time and for part-time jobs increased considerably, figures from the Australian Bureau of Statistics showed. The seasonally adjusted unemployment rate rose to 6.0 percent in June from 5.9 percent in May. Economists expected the unemployment rate to come in at 5.9 percent.
In the currency market, the Australian dollar is trading weak against the U.S. dollar. The local unit is currently quoting at US$0.9397, down slightly from Wednesday's close of US$0.9402.
The Japanese market opened on a slightly positive note on Wall Street cues, but gave up gains and slipped into negative territory following the release of some disappointing economic data. A slightly stronger yen too contributed to the market's decline to some extent.
The benchmark Nikkei 225 index was down 36.9 points or 0.2 percent at 15,265.8 at the end of the morning session, after having edged up to 15,326.78 earlier.
Nomura Holdings lost about 3 percent. Oki Electric Industry, Mitsubishi UFJ Financial Group, Nisshin Steel, Kawasaki Kisen Kaisha, Sumitomo Mitsui Financial Group (SMFG), Suzuki Motor, Yahoo Japan, Komatsu and Sumitomo Mitsui Trust Holdings were down 1.5 to 2.3 percent at the break.
Taiheiyo Cement, Canon Inc. (CAJ), Mazda Motor, Japan Steel Works and Nippon Electric Glass also posted notable losses.
Meanwhile, Toho Zinc, IHI Corp., Unitika, Showa Shell Sekiyu KK, NTN Corp., Pacific Metals, Heiwa Real Estate, Sumitomo Heavy Industries, NH Foods, Pioneer Corp. and Tokyo Tatemono gained 1 to 3 percent.
On the economic front, an index measuring prices for domestic corporate goods was up 0.2 percent on month at 106.3 in June, the Bank of Japan said. The headline figure beat expectations for an increase of 0.1 percent, although it was down from 0.3 percent in May.
On a yearly basis, prices gained 4.6 percent - also topping forecasts for 4.5 percent and up from 4.4 percent in the previous month.
Export prices were down 0.1 percent on month and 1.1 percent on year, the data showed, while import prices added 0.1 percent on month and 0.6 percent on year.
According to data released by the Cabinet Office, core machine orders in Japan plunged 19.5 percent on month in May, marking the highest monthly decline on record. The headline figure catastrophically missed forecasts for an increase of 0.7 percent following the 9.1 percent contraction in April.
On a yearly basis, machine orders tumbled 14.3 percent - also well shy of expectations for a gain of 10.1 percent following the 17.6 percent spike in the previous month. Following the release of the data, the Japanese government cut its assessment of core machine orders.
Meanwhile, an index measuring activity among tertiary industries was up a seasonally adjusted 0.9 percent on month in May, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 98.2. The headline figure was well shy of forecasts for an increase of 1.7 percent following the downwardly revised 5.7 percent decline in April.
In the currency market, the U.S. dollar traded in the mid 101 yen range in early deals in Tokyo. The yen is currently trading at 101.53 to the U.S. dollar, against Wednesday's close of 101.65 yen per dollar.
Among other markets in the Asia-Pacific region, Hong Kong, Singapore and Taiwan are notably higher. Indonesia is up sharply, while Malaysia, New Zealand and South Korea are marginally higher. Shanghai is slightly weak.
On Wall Street, stocks ended higher on Wednesday, partly offsetting the notable pullback seen over the two previous sessions. The markets benefited from a positive reaction to earnings news from Alcoa (AA) and the minutes of the latest Federal Reserve meeting.
The Dow climbed 79.0 points or 0.5 percent to 16,985.6, the Nasdaq advanced 27.6 points or 0.6 percent to 4,419.0 and the S&P 500 rose 9.1 points or 0.5 percent to 1,972.8.
Major European markets closed mixed on Wednesday. While the U.K.'s FTSE 100 index dropped by 0.3 percent, the French CAC 40 index and the German DAX index both moved up by 0.4 percent.
U.S. crude oil slipped for a ninth straight day to end at a near seven-week low on Wednesday, on easing concerns of supply disruption from the Middle East with reports of increased production and export from Libya. Oil prices plummeted despite an Energy Information Administration weekly report showed crude oil stockpiles in the U.S. to have declined, albeit less than expected last week.
Crude oil futures for August ended down $1.11 or 1.1 percent at $102.29 a barrel on the New York Mercantile Exchange.
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Market Analysis
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.