Asian markets trade mixed amid rebound in oil prices; Australian trade and PMI slump

Asian equity markets presented a mixed picture, reflecting uncertain sentiment on Wall Street as rising oil prices offset optimism from cooler-than-expected U.S. PCE inflation data. Meanwhile, early U.S. futures moved higher, with Dow futures up 0.36%, S&P 500 futures gaining 0.58%, and Nasdaq 100 futures advancing 1.08%. In commodities, WTI crude oil fell below $90 per barrel, while spot gold edged down toward $4,150 an ounce. South Korea’s KOSPI rose 1.72% to around 6,820. The S&P Global South Korea Manufacturing PMI rose to 53.9 in September 2026 from 52.3 in August, marking the strongest expansion since May. Japan's Nikkei 225 JPN225 rose 3.36% to above 68,000 on Thursday, advancing for a second straight session to its highest level in six weeks. Meanwhile, the Japanese yen weakened past 158 per dollar. The rally came despite the S&P Global Japan Manufacturing PMI easing to a six-month low in September, and a hawkish summary of opinions from the Bank of Japan's September meeting, where several members backed faster rate hikes toward terminal levels. China's 000001 markets closed. Hong Kong HSI markets closed. India SENSEX flat at 0.05% to 72,434, extending losses for a fourth straight session. Australia AU200AUD shares fell 1.71% to 8,669 in early October trade, erasing prior gains. Concurrently, the Australian dollar weakened to around $0.69, touching its lowest level in eleven weeks. Weak macro indicators weighed on markets: the September S&P Global Australia Manufacturing PMI contracted to 49.6 (down from 52.0 in August), and the August trade surplus narrowed sharply to AUD 0.50 billion, well below expectations, as import growth outpaced exports. Disclaimer Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.