Market watch: Asian stocks rebound as Wall Street rally lifts sentiment; oil prices steady after recent slump

Asian shares gained on Thursday, recovering some of the previous session’s sharp losses as investor sentiment improved following upbeat US jobs data and a rebound on Wall Street. According to news agency AFP, the rally came after figures from payrolls firm ADP showed that US private sector employment jumped more than expected in the past month, easing concerns over a slowdown in the world’s largest economy.Major markets across the Asia-Pacific region traded higher. Japan’s Nikkei 225 rose 1.1 per cent to 50,768.89, while South Korea’s Kospi inched close to the flatline after an earlier rise. As per CNBC, shares of chip-related firms such as Advantest and Disco Corp gained 3.7 per cent and 4.6 per cent respectively, while SoftBank, which tumbled 10 per cent on Wednesday, recovered 1.5 per cent.Hong Kong’s Hang Seng Index climbed 1.1 per cent to 26,220.02, with Chinese markets also edging up as Shanghai’s Composite gained 0.6 per cent. The Australian S&P/ASX 200 added 0.28 per cent. Meanwhile, newly listed Chinese autonomous vehicle firms WeRide and Pony.ai fell over 12 per cent and nearly 8 per cent, respectively, in their Hong Kong debut.Investors were also monitoring developments in Washington, where AFP said the US Supreme Court justices appeared sceptical about US President Donald Trump’s use of emergency powers to impose sweeping tariffs, which had drawn billions in customs revenue.On Wall Street, the Dow Jones Industrial Average closed 0.48 per cent higher, the S&P 500 rose 0.37 per cent, and the Nasdaq Composite advanced 0.65 per cent, buoyed by renewed optimism in artificial intelligence-linked stocks.In commodities, oil prices were largely flat after falling to two-week lows in the previous session amid concerns of weaker demand and growing global supply. Brent crude inched up 2 cents to $63.54 a barrel, while West Texas Intermediate held steady at $59.60. As per news agency, analysts at Capital Economics said downward pressure on oil prices is likely to persist, forecasting prices to average $60 per barrel by end-2025.Despite Thursday’s recovery, analysts cautioned that high valuations in technology shares and subdued energy demand could continue to test market stability in the weeks ahead.