MANILA, Philippines — Asian shares were mostly higher on Thursday after a mixed finish on Wall Street, where shares in Nvidia, Palantir and other superstar stocks pared their earlier steep losses.
Traders are looking ahead for cues about U.S. monetary policy from a meeting of central bankers that begins later in the day in Jackson Hole, Wyoming. Federal Reserve chair Jerome Powell is due to speak to the conference on Friday.
The Fed has kept its main interest rate steady this year, primarily because of the fear of the possibility that President Donald Trump’s tariffs could push inflation higher. But a surprisingly weak report on job growth across the U.S. may be superseding that.
Still, minutes from the Fed’s July 29-30 meeting released Wednesday showed most Fed officials felt the threat of higher inflation was a greater concern than the potential for job losses, leading the central bank to keep its key rate unchanged.
In Tokyo, the Nikkei 225 fell 0.6% to 42,636.74 after a survey showed Japan’s factory activity remained in contraction for the second month in August. The S&P Global flash Japan Manufacturing Purchasing Managers’ Index (PMI) increased to 49.9 in August from 48.9 in July, just below the 50 level that delineates between growth and decline.
Regional manufacturers have been feeling pressure from Trump’s higher tariffs on exports to the United States.
In Chinese markets, Hong Kong’s Hang Seng index edged 0.1% lower to 25,135.09, while the Shanghai composite index rose 0.4% to 3,779.52.
South Korea’s Kospi jumped 1% to 3,161.74, while Australia’s S&P ASX 200 index added 1% to 9,005.00.
Taiwan’s TAIEX climbed 1.2%, while India’s Sensex added 0.1%.
“Asian markets walked into Thursday