Asian stock markets, with the exception of Shanghai, are in positive territory on Thursday following the overnight gains on Wall Street after the Federal Reserve kept interest rates unchanged and said it will begin to unwind its bloated balance sheet "relatively soon".
Policy makers did not offer a specific timeline for further rate hikes, but will probably hold off until December barring an unexpected spike in inflation. Investors also digested strong earnings results from Samsung Electronics and Nintendo Corp.
The Australian market is modestly higher, tracking the positive cues overnight from Wall Street after the Federal Reserve kept interest rates unchanged.
In late-morning trades, the benchmark S&P/ASX 200 Index is adding 16.10 points or 0.28 percent to 5,792.70, off a high of 5,796.70 earlier. The broader All Ordinaries Index is up 15.90 points or 0.27 percent to 5,839.20.
In the mining space, BHP Billion is advancing more than 1 percent and Rio Tinto is up 0.4 percent after iron ore prices rose above $70 a tonne.
Fortescue Metals reported a 3 percent increase in iron ore shipments for the fourth quarter and said it achieved its full-year guidance. The miner's shares are rising more than 1 percent.
In the banking sector, Commonwealth Bank, National Australia Bank, ANZ Banking and Westpac are higher in a range of 0.1 percent to 0.3 percent.
Macquarie Group said it expects profit for fiscal year 2018 to be broadly in line with its record A$2.2 billion profit for 2017. The bank's shares are advancing more than 1 percent.
Gold miner Newcrest Mining is rising almost 1 percent and Evolution Mining is up more than 1 percent.
Among oil stocks, Oil Search is losing 0.6 percent, while Woodside Petroleum and Santos are declining almost 1 percent each despite the overnight increase in crude oil prices.
Aurizon Holdings has taken fresh impairments of A$606 million and could incur a full-year loss, but expects underlying earnings for the year will be in line with its revised guidance. The rail freight operator's shares are declining more than 1 percent.
In the currency market, the Australian dollar rebounded against the U.S. dollar on Thursday, surpassing the $0.80 level for the first time in two years. In early trades, the local unit was trading at US$0.8006, up from US$0.7891 on Wednesday.
The Japanese market recovered after a weak start and is rising, tracking the overnight gains on Wall Street following the Federal Reserve's decision to keep interest rates unchanged.
In late-morning trades, the benchmark Nikkei 225 Index is rising 27.35 points or 0.14 percent to 20,077.51, off a low of 20,005.20 earlier.
The major exporters are mostly higher despite a stronger yen. Sony is up 1 percent, while Panasonic and Canon are higher by 0.5 percent each. Toshiba is losing almost 6 percent.
Nintendo is gaining more than 6 percent after reporting better-than-expected earnings results on Wednesday.
Among automakers, Toyota is rising 0.5 percent and Honda is edging down less than 0.1 percent.
In the banking sector, Mitsubishi UFJ Financial is declining 0.6 percent and Sumitomo Mitsui Financial is losing almost 1 percent each.
In the oil space, Inpex is edging up less than 0.1 percent and Japan Petroleum is rising 0.4 percent.
Among the other major gainers, Toho Co. is rising almost 6 percent, Nippon Express is advancing almost 3 percent and Alps Electric is up more than 2 percent. On the flip side, Nippon Sheet Glass is down 2 percent and DeNA is lower by almost 2 percent.
In the currency market, the U.S. dollar is trading in the 111 yen-range on Thursday.
Elsewhere in Asia, South Korea, Singapore, New Zealand, Hong Kong, Indonesia, Malaysia and Taiwan are also in positive territory. Bucking the trend, Shanghai is modestly lower.
On Wall Street, stocks finished higher on Wednesday as earnings from Boeing and Facebook beating expectations. The Federal Open Market Committee voted to maintain its key interest rate in a 1.00 to 1.25 percent range, but vowed to raise rates once by year's end.
The Dow added 97.58 points or 0.45 percent to 21,711.01, while the NASDAQ gained 10.57 points or 0.16 percent to 6,422.75 and the S&P was up 0.70 points or 0.03 percent to 2,477.83.
European markets also closed higher on Wednesday, as solid U.K. GDP data and a number of positive corporate financial reports helped the markets to log modest gains. The DAX of Germany climbed 0.33 percent, the CAC 40 of France rose 0.56 percent and the FTSE 100 of the U.K. gained 0.24 percent.
Crude oil futures surged on Wednesday to its highest level in almost two months. September WTI crude rose 86 cents, or 1.8 percent, to settle $48.75 a barrel on the New York Mercantile Exchange.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.