Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from global markets overnight, as traders reacted to weak US PMI data that raised hopes the US Fed would end its tightening campaign to avert a recession. They also remain largely cautious, awaiting US Fed Chair Jerome Powell's speech at the Jackson Hole Symposium this week for more clues about the economy and interest-rate outlook. Asian Markets closed mixed on Wednesday.
The Australian stock market is modestly higher on Thursday, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying above the 7,100 level, following the broadly positive cues from global markets overnight, with gains across most sectors, led by technology stocks and gold miners.
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