Australia

Australian shares are set to open higher, after US stocks ended mostly higher led by gains in basic materials stocks.

ASX futures were up 0.3% or 26 points as of 8:30am on Thursday, suggesting a higher open.

US stocks ended the day mostly higher on Wednesday.

The S&P 500 was up 0.1. at 5,211.49. The Dow Jones Industrial Average fell 0.1% to 39,127.14. The Nasdaq Composite rose 0.2% to 16,277.46.

In commodity markets, Brent crude oil was up 0.7% to US$89.52 a barrel, while gold was up 0.8% at US$2,299.54.

In local bond markets, the yield on Australian 2 Year government bonds was up at 3.75% while the 10 Year yield was also up at 4.14%. US Treasury notes were mixed, with the 2 Year yield down at 4.67% and the 10 Year yield unchanged at 4.35%.

The Australian dollar was 65.60 US cents up from its previous close of 65.16. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, was down at 98.89.

Asia

Chinese shares closed lower, tracking losses in most regional markets. U.S.-China tensions continue to loom large during a U.S. election year, while the Chinese property sector is still a major risk, HSBC analysts say in a research note. Although investors welcome Beijing's new focus on shareholder returns, reforms to lift domestic demand are needed to sustain the recent rebound in stock markets, they add. Tech stocks led the losses this session. Beijing Kingsoft Office Software shed 5.3% and iFlytek lost 2.3%. Foxconn Industrial Internet slid 4.3%. The benchmark Shanghai Composite Index ended 0.2% lower at 3069.30, the Shenzhen Composite Index fell 0.7% lower, and the ChiNext Price Index was off 1.1%.

Hong Kong shares closed 1.2% lower at 16725.10, tracking Wall Street losses overnight. One factor weighing on sentiment could be growing doubts about whether inflation has been tamed in the U.S., and pared-back bets on Fed rate cuts. Auto and tech-related stocks led losses. Among carmakers, Li Auto slid 5.0%, BYD was down 2.2% and Geely Automobile slipped 1.9%. Among tech-related stocks, Lenovo fell 3.35%, Xiaomi shed 4.4% and Sunny Optical lost 2.4%. Meanwhile, gainers include China Hongqiao, which rose 5.25% and Zijin Mining Group, which added 3.7% The Hang Seng Tech Index closed 2.3% Lower at 3460.87.

Japanese stocks ended lower, dragged by falls in electronics, machinery and game stocks, as concerns grow about higher energy costs. Nidec Corp. dropped 2.5%, Mitsubishi Heavy Industries shedded 2.6% and Nintendo lost 4.2%. Fast Retailing declined 3.3% after Uniqlo sales in Japan fell 1.5% on year in March. The Nikkei Stock Average fell 1.0% to 39451.85. Investors are focusing on economic data and their policy implications. The 10-year Japanese government bond yield was flat at 0.765%.

India's Sensex closed flat at 73876.82, with investors likely awaiting Fed Chair Jerome Powell's speech later in the day to provide more hints about the trajectory of rate cuts this year and the Reserve Bank of India's policy decision later this week. Among the gainers, NTPC climbed 2.0% and Tata Consultancy Services added 1.7%. Power stocks rose notably, with JSW Energy advancing 7.2% and Adani Power increasing 5.0%. Decliners included Nestle India, which fell 2.6%, and Kotak Mahindra Bank, which shed 1.4%.

Europe

European shares closed higher, with the STOXX Europe 600 Index and CAC 40 rising 0.3% to 510.02 and 8,153.23 respectively, and the DAX climbed 0.5% to 18,367.72.

The FTSE 100 closed virtually flat, up 0.03% at 7937 points on Wednesday after recovering from a lower morning. "The FTSE 100 took its cue from selling in Asia and the U.S. overnight to trade lower on Wednesday," AJ Bell Investment Director Russ Mould wrote in a research note. "Up until now the market has been remarkably sanguine about expectations on when the first interest rate cut will fall consistently being pushed back. But investors' patience may finally be running thin," Mould said. Fresnillo was the day's highest riser, up 3.7%, followed by Barclays and NatWest Group, up 2.4% and 2.2%, respectively. BT Group, RS Group, and Admiral Group were the session's biggest fallers, down 4.6%, 3.2% and 3.0%, respectively.

North America

US stocks ended the day mostly higher on Wednesday.

The S&P 500 was up 0.1. at 5,211.49. The Dow Jones Industrial Average fell 0.1% to 39,127.14. The Nasdaq Composite rose 0.2% to 16,277.46.