Tracking cues from Wall Street, where stocks rallied sharply overnight on the back of a pickup in U.S. manufacturing activity, Asian stock markets are mostly trading firm on Thursday. Though most of the markets have given up some early gains with some investors choosing to take profits, the mood remains fairly bullish at present.
Energy, mining, financial and consumer discretionary stocks are mostly up with notable gains in the Australian market. Property trusts and industrial stocks are also trading firm.
The benchmark S&P/ASX 200 index, which rose to 4,552.7 following a buoyant start, is currently up 31.3 points or 0.7% at 4,527. The broader All Ordinaries index is up 31.2 points or 0.7% at 4,558.
Among bank stocks, ANZ Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac are up 0.7%-1.3%. Bank of Queensland is up 1% and Bendigo & Adelaide Bank is trading higher by 1.5%, while Macquarie Group shares are up nearly a percent.
Among top miners, BHP Billiton and Rio Tinto are up 1% and 1.6% respectively. Fortescue Metals is gaining about 0.3%, while Newcrest Mining is trading lower by 1.2%.
Orica is trading 2% up, while Onesteel, Incitec Pivot and Bluescope Steel are up marginally.
In the energy space, Woodside Petroleum and Oil Search are trading notably higher, while Origin Energy and Santos are down with marginal losses.
Among insurance stocks, Suncorp-Metway and QBE Insurance are trading notably higher, while Insurance Australia is down with a marginal loss.
On the economic front, Australia's trade surplus narrowed to a seasonally adjusted A$1.9 billion in July from A$3.4 billion in June, according to a report from the Australian Bureau of Statistics. That is considerably lower than analyst forecasts for a A$3.1 billion surplus. Exports fell 4% in July compared to the previous month, to A$25.4 billion. Non-rural goods fell 6% and non-monetary gold fell 15%. Imports, on the other hand, were up 2% to A$23.5 billion.
In the currency market, the Australian dollar opened notably higher on the back of encouraging economic data from U.S., China and Australia. In early trades, the Aussie was quoting at US$0.9111-US$0.9115, up from Wednesday's close of US$0.9010-US$0.9012. The Australian dollar is currently trading at 0.9062 to the U.S. dollar.
The Japanese market is trading higher with investors tracking overnight gains on Wall Street and indulging in some strong buying in several front line stocks. A pause in the yen's rise also contributed to the buoyant mood.
The benchmark Nikkei 225 index, which rose to 9,083.4 in early trades, was up 108.70 points or 1.22% at 9,035.72 at the end of the morning session.
Machinery, steel, non-ferrous metals, glass & ceramics and real estate are mostly up with notable gains. Electric power, gas, retail and textile stocks are trading mixed. Bank and automobile stocks are also exhibiting a mixed trend.
Fuji Heavy Industries, the biggest gainer in the Nikkei index, is up nearly 4.5%. Sumitomo Heavy Industries, Fujikura and Taiyo Yuden are also up by over 4%.
GS Yuasa, Sumitomo Metal Mining, Denso Corp., Konica Minolta, Tokai Carbon, Mitsui OSK Lines, Inpex Corp., Trend Micro, Bridgestone Corp., Nippon Express and Yokohama Rubber are also trading sharply higher. Canon Inc., Advantest, Sony and Casio Computer too are up with notable gains.
Honda Motor, Nissan Motor, Hino Motors, Isuzu Motors, Mitsubishi Motor and Suzuki Motor are up with notable gains, while Mazda Motor and Toyota Motor are trading weak.
Among bank stocks, Mitsubishi UFJ Financial and Sumitomo Trust & Banking are trading marginally lower, while Mizuho Trust & Banking, Chiba Bank, Bank of Yokohama and Mizuho Financial are up in positive territory.
In economic news, the monetary base in Japan was up 5.4% on year in August, standing at 98.399 trillion yen, the Bank of Japan said Thursday. That follows a 6.1% annual expansion in July. Banknotes in circulation were up 1.2% in August, while coins in circulation eased 0.3%. Current account balances surged an annual 32.7%, including a 29.6% gain in reserve balances. Seasonally adjusted, the monetary base shed 4.2% percent on year to 99.474 trillion yen.
In the currency market, the U.S. dollar traded at mid-84 yen level in early deals in Tokyo. The yen is currently trading at 84.15 to the U.S. dollar.
After a bright start on the back of positive cues from Wall Street, the South Korean market has shed some early gains with a section of investors going in for some profit taking.
Technology and shipping stocks are trading with notable gains, while automobile and banking stocks are trading weak. The benchmark KOSPI index, which surged to 1,783.9 in early trades, is currently up 6.3 points or 0.36% at 1,771.
Among technology stocks, LG Display LCD is up 4.3%, LG Electronics is gaining about 1% and Hynix Semiconductor is up with a gain of 0.7%, while Samsung Electronics is trading marginally up.
In the shipping space, Hyundai Heavy Industries, Samsung Heavy Industries and STX Pan Ocean are up 0.4%-1%, while Daewoo Shipbuilding is gaining about 1.5%.
Automobile stocks Kia Motor, Hyundai Motor and Ssangyong Motor are trading lower by 0.3%-1%. Among bank stocks, Woori Finance, KB Financial and Shinhan Financial are down 0.3%-0.6%, while Korea Exchange Bank is up with a gain of 1.3%.
Oil stocks SK Holdings and S-Oil are up 1.2% and 1.6% respectively. KEPCO is gaining over 1%. Steel stocks Hyundai Steel and POSCO are trading modestly higher.
Airlines and telecommunications stocks are trading mixed.
Among other markets in the Asia-Pacific region, Shanghai, Hong Kong, New Zealand, Singapore and Taiwan are up with notable gains. Malaysia is up marginally, while Indonesia is trading slightly below the unchanged line. Markets across the region ended with notable gains on Wednesday.
On Wall Street, stocks saw substantial gains on Wednesday, as data showing a pickup in manufacturing activity in both the U.S. and China recharged some hopes of a continued economic recovery. The rally was further fueled by a better than expected reading on resource-linked Australian GDP.
The major averages ended near their best levels of the day. The Dow shot up by 254.8 points or 2.5% to 10,269.5, the Nasdaq surged by 62.8 points or 3% to 2,176.8 and the S&P 500 advanced by 31 points or 3% to 1,080.3.
Major European markets ended sharply higher on Wednesday. The French CAC 40 index ended up 3.8%, while the German DAX index and the U.K.'s FTSE 100 index both jumped by 2.7%.
Crude oil prices sailed higher on Wednesday as improvement in the U.S. manufacturing industry eased some fears about the strength of the global recovery. Light, sweet crude for October delivery rose US$1.99 or 2.8% to close at US$73.91 a barrel on the New York Mercantile Exchange.
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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.