Asia shares trade mixed on Thursday, as tech shares stabilized from their recent losses. Australian markets hit record highs, driven by strong business activity data for August. On the geopolitical front, Russia said on Wednesday that attempts to address security concerns related to Ukraine without Moscow’s involvement are a “road to nowhere”, sounding a warning to the West as it begins exploring post-conflict security guarantees for Kyiv. Silver traded around $37.8 per ounce on Thursday, consolidating after an over 1% rally in the previous session. Gold prices held steady around $3,340 per ounce on Thursday. Japan ( NKY:IND ) fell 0.68% to below 42,800 and the Topix slipped 0.15% to 3,094 on Thursday, marking the third consecutive session of losses. The Japanese yen weakened to around 147.5 per dollar on Thursday, snapping a two-day rebound, as uncertainty over the Bank of Japan’s policy outlook persisted. The S&P Global Japan Manufacturing PMI edged up to 49.9 in August 2025 from a final 48.9 in July , surpassing market forecasts of 49, preliminary estimates showed. Services PMI dropped to 52.7 in August 2025 from July’s five-month high of 53.6. Japan's Composite PMI rose to 51.9 in August 2025 from 51.6 in July. China ( SHCOMP ) rose 0.50% were little changed on Thursday, with the former holding at decade highs as investors awaited fresh catalysts to extend the rally. Equities extended gains as funds rotated into stocks despite ongoing U.S. trade tensions, while Beijing pressed ahead with curbs on excessive competition. On Wednesday, China has initiated a trade dispute against Canada at the World Trade Organization. The complaint is over Canada's surtaxes and quotas on steel and aluminum, which China claims unfairly target its imports. Hong Kong ( HSI ) fell 0.22% holding near 25,174 after a modest gain in the previous session. India ( SENSEX ) rose 0.42% The HSBC India Manufacturing PMI rose to 59.8 in August 2025 from a final reading of 59.1 in July, surpassing market forecasts of 59.1, preliminary estimates showed. Services PMI rose to 65.6 in August 2025 from 60.5 in July, composite PMI surged to a record 65.2 in August 2025 from a final 61.1. India and the Eurasian Economic Union signed the terms of reference to launch negotiations for a Free Trade Agreement in Moscow on Wednesday, according to The Times of India. Australia ( AS51 ) rose 0.94% to 8,969 on Thursday, extending gains from the previous session and hitting a record high as investors reacted positively to strong PMI figures. The Australian dollar depreciated past $0.642 on Thursday, marking its fourth consecutive session of declines and remaining at its lowest level in three weeks amid the latest release of economic data. Australia's manufacturing sector grew at its fastest pace in nearly three years , as the S&P Global Manufacturing PMI rose to 52.9 in August from 51.3 in July. Services PMI Business Activity Index rose to 55.1 in August from 54.1 in July, marking the fastest growth in 40 months. Composite PMI continued to expand in August 2025, rising to 54.9 from 53.8 in July, marking the strongest growth since April 2022. Meanwhile, consumer inflation expectations eased to a five-month low of 3.9% in August from 4.7% in July, signaling reduced price pressures. In the U.S. on Wednesday, all three major indexes ended mostly lower as investors digested minutes from the latest FOMC meeting, which struck a hawkish tone amid lingering inflation risks and technology shares continued to retreat amid concerns over lofty valuations and the sustainability of the AI rally. Investors now turn to Fed Chair Jerome Powell’s speech at the Jackson Hole symposium for clues on potential rate cuts. Upcoming catalysts also include weekly jobless claims, existing home sales, and earnings reports from Walmart and Workday. U.S. stock futures held steady Thursday following a tech-led selloff on Wall Street: Dow -0.15% ; S&P 500 -0.08% ; Nasdaq -0.01% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Japan's manufacturing sector shrinks less than expected to 49.9 in August, services growth slows to 52.7 Australia's manufacturing and services sectors show strongest growth in nearly three years PBOC keeps lending rates at record lows for third straight month New Zealand cuts rate by 25 bps to 3-year low Japan's economy accelerates by 0.3% in Q2, beating forecasts
