Asian Markets Mixed Amid Oil Price Rebound

Asian equity markets presented a mixed picture on Thursday, as oil prices rebounded from recent lows. The WTI crude oil price rose above $90 per barrel, offsetting optimism from cooler-than-expected U.S. PCE inflation data.

South Korea's KOSPI led the gains with a 1.72% increase to around 6,820, while Japan's Nikkei 225 rose 3.36% to above 68,000 for its second straight session and highest level in six weeks.

However, Australia's AU200AUD shares fell 1.71% to 8,669, erasing prior gains, as the country's manufacturing PMI contracted to 49.6 in September from 52.0 in August, and trade surplus narrowed sharply to AUD 0.50 billion.