Asian Markets Trade Mostly Higher

(RTTNews) - Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid thin trading volumes as most of the regional markets, including mainland China, Hong Kong, Singapore, Malaysia, Taiwan and South Korea, remain shuttered for the Lunar New Year holidays. Traders also monitored the latest developments on the geopolitical front. Asian markets closed mixed on Tuesday.

Traders were also reluctant to make significant moves ahead of key economic data in the coming days. The minutes of the US Fed's latest monetary policy meeting later in the day may also shed additional light on the outlook for interest rates.

Australian shares are trading modestly higher on Wednesday, extending the gains in the previous three sessions, with the benchmark S&P/ASX 200 moving up to near the 9,000 mark, following the broadly positive cues from Wall Street overnight, with gains in iron ore miners, energy and technology stocks. Only gold miners lost their shine.

The benchmark S&P/ASX 200 Index is gaining 26.70 points or 0.30 percent to 8,985.60, after touching a high of 9,007.10 earlier. The broader All Ordinaries Index is up 29.30 points or 0.32 percent to 9,211.80. Australian stocks ended modestly higher on Tuesday.

Among major miners, Fortescue and Rio Tinto are gaining more than 1 percent each, while Mineral Resources is advancing almost 4 percent. BHP Group is losing 1.5 percent.

Oil stocks are mostly higher. Beach energy is adding almost 2 percent, while Woodside Energy and Origin Energy are edging up 0.3 to 0.4 percent each. Santos is losing more than 1 percent.

In the tech space, Afterpay owner Block and Xero are gaining almost 2 percent each, while Zip is jumping almost 8 percent, Appen is surging more than 9 percent and WiseTech Global is adding almost 1 percent.

Among the big four banks, National Australia bank is surging more than 4 percent and Westpac is gaining more than 1 percent, while Commonwealth Bank is edging down 0.5 percent. ANZ Banking is flat. Among gold miners, Evolution Mining is losing more than 3 percent, Genesis Minerals is slipping almost 3 percent, Resolute Mining is down almost 1 percent, Northern Star Resources is declining more than 2 percent and Newmont is edging down 0.2 percent.

In economic news, the wage price index in Australia was up a seasonally adjusted 0.8 percent on quarter in the fourth quarter of 2025, the Australian Bureau of Statistics said on Wednesday - unchanged and in line with expectations. On a yearly basis, wage prices were up 3.4 percent - again matching forecasts and steady from the previous three months. Individually, private sector wages rose 0.8 percent on quarter and 3.4 percent on year, while public sector wages added 0.8 percent on quarter and 4.0 percent on year.

In the currency market, the Aussie dollar is trading at $0.708 on Wednesday.

The Japanese stock market is trading sharply higher on Wednesday, snapping a four-session losing streak, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 57,250 level, with gains in automakers, exporters and financial stocks as well as a mixed performance in index heavyweights and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 57,253.46, up 686.97 points or 1.21 percent, after touching a high of 57,297.64 earlier. Japanese stocks ended modestly lower on Tuesday.

Market heavyweight SoftBank Group is losing almost 2 percent, while Uniqlo operator Fast Retailing is gaining more than 1 percent. Among automakers, Honda is gaining more than 1 percent and Toyota is also adding more than 1 percent.

In the tech space, Advantest is edging up 0.1 percent and Tokyo Electron is advancing almost 4 percent, while Screen Holdings is declining almost 1 percent.

In the banking sector, Sumitomo Mitsui Financial is gaining more than 3 percent, Mizuho Financial is adding almost 2 percent and Mitsubishi UFJ Financial is advancing almost 3 percent.

Among the major exporters, Mitsubishi Electric is gaining almost 3 percent, Canon is up almost 1 percent and Panasonic is advancing more than 4 percent, while Sony is edging down 0.3 percent.

Among other major gainers, GS Yuasa is soaring more than 6 percent, TDK is surging almost 6 percent, Keisei Electric Railway is jumping more than 5 percent and Sojitz is gaining almost 5 percent, while Mitsui Kinzoku, Credit Saison, Toto and Fuji Electric are advancing more than 4 percent each. Toyota Tsusho, Tokio Marine Holdings, Dai-ichi Life Holdings, Taisei and IHI are adding almost 4 percent each.

Conversely, Sumitomo Pharma is declining almost 5 percent, while Shiseido and Dentsu Group are losing almost 4 percent each.

In economic news, Japan posted a seasonally adjusted merchandise trade deficit of 1.152 trillion yen in January, the Ministry of Finance said on Wednesday. That far surpassed expectations for a deficit of 2.142 trillion yen following the 113.5 billion yen surplus in December.

Exports jumped 16.8 percent on year to 9.187 trillion yen - beating forecasts for an increase of 12.0 percent following the 5.1 percent gain in the previous month. Imports slipped an annual 2.5 percent to 10.340 trillion yen versus expectations for a gain of 3.0 percent following the 5.2 percent increase a month earlier.

In the currency market, the U.S. dollar is trading in the higher 153 yen-range on Wednesday.

Elsewhere in Asia, New Zealand and Indonesia are up 1.1 and 0.4 percent, respectively. South Korea, Malaysia, Singapore, Taiwan, China and Hong Kong remain closed for the Lunar New Year.

On the Wall Street, stocks turned in a relatively lackluster performance over the course of the trading session on Tuesday after recovering from an early move to the downside. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing modestly higher.

The Dow inched up 32.26 points or 0.1 percent to 49,533.19, the Nasdaq edged up 31.71 points or 0.1 percent to 22,578.38 and the S&P 500 crept up 7.05 points or 0.1 percent to 6,843.22.

The major European markets have also moved to the upside on the day. While the French CAC 40 Index climbed by 0.5 percent, the German DAX Index and the U.K.'s FTSE 100 Index both advanced by 0.8 percent.

Crude oil prices showed another notable move to the downside on Tuesday amid reports indicating that the Organization of Petroleum Exporting Countries is leaning towards resuming oil output increases from April. West Texas Intermediate crude for March delivery slid $0.44 or 0.7 percent to $62.45 a barrel.