(fxcue news) - Asian stock markets are trading mixed on Thursday, following the mixed cues from Wall Street overnight, and amid some optimism about the US Fed resuming interest rate cuts in the near future after a report showed consumer prices in the U.S. came in tamer-than-expected in February. However, concerns about the impact of the ongoing trade war continue to weigh on the markets. Asian Markets closed mostly lower on Wednesday. U.S. President Donald Trump escalated global trade tensions by threatening more tariffs on EU goods. Trump also hinted at financial repercussions if Russia rejects the Ukraine ceasefire proposal. Trump's steel and aluminum tariffs took effect on Wednesday, raising fears of a widening global trade war. The Australian market is trading slightly lower on Thursday after opening well in the green, extending the losses in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,800 level, with weakness in iron ore miners and financial stocks partially offset by gains in gold miners and technology stocks. The benchmark S&P/ASX 200 Index is losing 7.30 points or 0.09 percent to 7,778.30, after touching a high of 7,821.10 and a low of 7,764.30 earlier. The broader All Ordinaries Index is down 5.30 points or 0.07 percent to 7,997.30. Australian stocks ended sharply lower on Wednesday. Among major miners, Rio Tinto is down almost 1 percent, BHP Group is losing more than 1 percent and Fortescue Metals is edging down 0.3 percent, while Mineral Resources is surging almost 6 percent. Oil stocks are mostly higher. Santos, Beach energy and Woodside Energy are gaining almost 1 percent each, while Origin Energy is edging down 0.5 percent. In the tech space, WiseTech Global is gaining more than 1 percent, Appen is advancing almost 3 percent, while Zip and Xero are edging up 0.3 percent each. Afterpay owner Block is edging down 0.2 percent. Among the big four banks, Commonwealth Bank and National Australia Bank are edging up 0.1 to 0.3 percent each, while Westpac is losing more than 1 percent. ANZ Banking is edging up 0.1 percent. Among gold miners, Newmont is adding almost 1 percent, Northern Star Resources is gaining more than 1 percent, Resolute Mining is up 2.5 percent, Gold Road Resources is rising almost 3 percent and Evolution Mining is advancing more than 4 percent each. In corporate news, shares in Silk Logistics are plunging more than 19 percent after the competition watchdog raised concerns over stevedore DP World's takeover bid. In the currency market, the Aussie dollar is trading at $0.633 on Thursday. The Japanese market is trading significantly higher on Thursday, extending the slight gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 37,200 level, with gains across most sectors led by exporters, technology and financial stocks. The benchmark Nikkei 225 Index closed the morning session at 37,173.82, up 354.73 points or 0.96 percent, after touching a high of 37,326.27 earlier. Japanese shares ended slightly higher on Wednesday. Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Toyota is losing more than 1 percent and Honda is edging down 0.4 percent. In the tech space, Advantest is surging more than 6 percent, Tokyo Electron is adding 1.5 percent and Screen Holdings is up almost 1 percent. In the banking sector, Mizuho Financial is gaining almost 2 percent, while Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are adding 1.5 percent each. Among the major exporters, Panasonic is gaining almost 1 percent, Mitsubishi Electric is adding more than 1 percent, Sony is advancing 1.5 percent and Canon is edging up 0.5 percent. Among other major gainers, Disco is surging almost 6 percent, Japan Steel Works is gaining more than 4 percent and Ryohin Keikaku is advancing almost 4 percent, while Taiyo Yuden, Sompo Holdings, Denka and TDK are adding more than 3 percent each. Tokio Marine, Fujikura, Seven & I Holdings, Kawasaki Heavy Industries, Shizuoka Financial, Nikon and Credit Saison are up almost 3 percent each. Conversely, there are no other major losers. In the currency market, the U.S. dollar is trading in the lower 148 yen-range on Thursday. Elsewhere in Asia, Malaysia is up 1.4 percent, while Hong Kong, Singapore and South Korea are higher by between 0.1 and 0.2 percent each. New Zealand, China, Indonesia and Taiwan are lower by between 0.1 and 0.3 percent each. On Wall Street, stocks moved mostly higher over the course of the trading day on Wednesday after seeing considerable volatility early in the session. With the upward move, the Nasdaq and the S&P 500 regained ground after ending Tuesday's trading at their lowest closing levels in six months. The tech-heavy Nasdaq led the way higher, jumping 212.35 points or 1.2 percent to 17,648.45. The S&P 500 also climbed 27.23 points or 0.5 percent to 5,599.30, although the narrower Dow bucked the uptrend and dipped 82.55 points or 0.2 percent to 41,350.93. Meanwhile, the major European markets moved to the upside on the day. While the German DAX Index surged by 1.6 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index climbed by 0.6 percent and 0.5 percent, respectively. Crude oil prices moved higher on Wednesday after data showed a smaller than expected increase in U.S. crude oil inventories last week. West Texas Intermediate Crude oil futures for April closed higher by $1.43 or 2.16 percent at $67.68 a barrel.