Asian markets open for trading on Thursday, ended in positive territory, except the Chinese market, taking cues from Wall Street where the major averages ended in positive territory with solid gains as European debt concerns eased considerably following auction of Portugal's sovereign bonds. Better than expected unemployment rate in Australia and bargain hunting at select stocks at lower levels helped the major markets end in positive territory, as concerns about double-dip recession fades and optimism about sustaining economic recovery, albeit at a slower pace, gains momentum.
In Japan, the benchmark Nikkei 225 Index rose 0.82%, or 73.79 points, to 9,098, while the broader Topix index of all First Section issues gained 5.85 points, or 0.71%, to 827.
On the economic front, results of a survey conducted by the Cabinet Office in Japan revealed that consumer confidence fell in August to 42.5 from 43.4 in July. The data further noted that households' consumer sentiment also deteriorated in August, to 42.4. Economists had expected the indicator to rise to 43.6 from 43.3 in the prior month. Among the sub indicators of households' consumer confidence, the index for overall livelihood slipped slightly to 43 from 43.2, while the income growth index stagnated at 41.5. The reading for employment came in at 40.1, down from 41.8 in July. At the same time, willingness to buy durable goods decreased to 45 from 46.7.
Rubber products were the major gainers in the market following sharp sell-off in the previous session. Bridgestone Corp. gained 2.23% and the Yokohama Rubber Co. rose 1.75%.
Iron & steel related stocks also ended higher on optimism about sustaining global economic recovery, albeit at a slower pace. JFE Holdings gained 1.78%, Nippon Steel rose 2.07%, Pacific Metals Co. urged up 3.47%, Kobe Steel climbed 3.33%, and Nisshin Steel Co. soared 4.14%.
Stocks pertaining to glass and ceramic sector also ended in positive territory. TOTO Ltd climbed 4.74%, NGK Insulators rose 1.91%, Asahi Glass Co., gained 2.34% and Tokai Carbon Co. advanced 0.80%.
Automotive stocks also ended in positive territory. Toyota Motor Corp. surged up 3.53%, Honda Motor advanced 1.24%, Hino Motors Ltd rose 1.58%, Nissan Motor Co. added 0.76% and Mazda Motor increased by 1.08%.
Real estate related stocks, however, bucked the trend and ended in negative territory with marginal losses. Mitsui Fudosan plunged 3.56%, Sumitomo Realty & Development fell 2.10%, Mitsubishi Estate shed 1.89% and Tokyu Land Corp. was down 1.19%.
In Australia, the benchmark S&P/ASX200 Index gained 45.00 points, or 0.99%, and closed at 4,582 points, while the All-Ordinaries Index ended at 4,621, representing a gain of 43.00 points, or 0.94%.
On the economic front, a report released by the Australian Bureau of Statistics revealed that unemployment rate in the country declined to a seasonally adjusted 5.1% in August, a decline of 0.2% from 5.3% reported for July. Most economists had forecast a decrease of 0.1% to 5.2% for the month. The report further revealed that the number of employed Australians increased by 30,900 in August. The rise in employment was driven by an increase in full-time employment, which was up 53,100, while part-time employment decreased by 22.100 people. The number of unemployed Australians decreased by 22,500 to 607,700.
Banking shares led the gains as concerns about European banks as well as debt eased considerably following strong demand for Portugal's bonds issue. ANZ Bank advanced 1.15%, Commonwealth Bank of Australia gained 1.37%, National Australia Bank climbed 3.73% and Westpac Banking increased 1.23%. Investment banker Macquarie Group was up by 1.70%.
Mining and metal stocks also ended in positive territory. BHP Billiton added 0.71%, Rio Tinto advanced 0.63%, Fortescue Metals gained 0.83%, Gindalbie Metals rose 0.55%, Iluka Resources climbed 3.13%, Mincor Resources increased by 1.12%, Murchison Metals surged by 5.57% and Oz Minerals edged up by 0.37%.
Insurance company AXA Pacific declined the most following ACCC's denial of permission for the proposed merger with National Australia Bank. The stock plunged 6.62%.
Mixed trading was witnessed among oil related stocks. Santos Ltd declined 6.98% after the company announced that it would sell 15% stake in Gladstone LNG project to Total SA for $650 million. Among the other energy related stocks, Woodside Petroleum added 0.52%, ROC Oil Ltd climbed 2.67%, Origin Energy edged up 0.07% and Oil Search Ltd gained 1.02%.
Momentum-based fund buying in heavyweight stocks and positive cues from global markets following a successful bond auction in Europe lifted the Indian market notably higher on Thursday ahead of the holiday weekend. Meanwhile, the market shrugged off data that showed food inflation rose for a second consecutive week. India's food inflation accelerated to 11.47% in late August versus 10.86% during the previous week, on the back of increase in prices of cereals, fruits, vegetables and milk, data released on Thursday showed, adding pressure on the Reserve Bank of India to raise interest rates at its review next week. The fuel price index rose an annual 12.71% during the week under review. Despite a bout of volatility, the 30-share BSE Sensex managed to rise about 133 points or 0.71% to 18,800, with 18 of its components ending in the green. The broader Nifty climbed 32 points or 0.57% to 5,640.
Among the other major markets open for trading, China's Shanghai Composite Index declined 38.94 points, or 1.44%, to 2,656, and Taiwan's Weighted Index slipped 15.77 points, or 0.20%, to close at 7,836. Singapore's Strait Times Index managed to end in positive territory with a gain of 10.86 points, or 0.36%, at 3,022. The market in Indonesia was closed for a public holiday.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.