(RTTNews) - Asian stock markets are mostly higher on Thursday, following mixed cues overnight from Wall Street. Markets are positive after the minutes from the US Federal Reserve's latest monetary policy meeting indicated the central bank plans to maintain its ultra-loose monetary policy despite massive stimulus packages. Asian markets closed mostly higher on Wednesday.
However, traders continue to be cautious amid the surge in coronavirus cases in the region and extension of lockdown restrictions in several markets.
The Australian stock market is higher on Thursday, extending gains of the previous four session, with the benchmark S&P/ASX 200 hovering just below the 7,000 mark at 14-month highs, boosted by gains in materials, energy and financial stocks after the RBA held the cash rate target at a record low 0.1 percent.
The benchmark S&P/ASX 200 Index is gaining 67.70 points or 0.98 percent to 6,995.70, after touching a high of 7,012.40 earlier. The broader All Ordinaries Index is up 67.70 points or 0.94 percent to 7,245.10. Australian markets ended higher on Wednesday.
Among major miners, Fortescue Metals is up more than 3 percent, while BHP Group and Rio Tinto are gaining more than 2 percent each.