Investing.com - The Australian share market was trading higher after the first hour of Thursday's trade, following mixed reactions to the US Consumer Price Index data overnight. The S&P/ASX 200 saw a modest rise of 0.1% , or 9 points, to 7162.9 at the open, and the ASX All Ordinaries index moved up by 0.2%.
Energy stocks were the early performers, with a collective increase of 0.7%. Coal mining firms Yancoal Australia Ltd (ASX:YAL), Whitehaven Coal Ltd (ASX:WHC), and New Hope Corporation Ltd (ASX:NHC) all experienced gains of over 1.5%.
Fashion retailer Myer Holdings Ltd (ASX:MYR) saw a 1.1% increase after meeting its full-year 2023 guidance announced in August. The company reported a 12.5% rise in top-line sales to $3.36 billion and an 18.2% increase in the bottom line to $71.1 million.
However, Starpharma Holdings Ltd (ASX:SPL) dropped by 6.3%, following a 20% surge the previous day due to positive interim results for the company's cancer drug.
Downer Edi Ltd (ASX:DOW) saw a slight decline of 0.5% despite securing a new contract from the Australian Defence Force worth up to $750 million. The contract pertains to the redevelopment of the RAAF Woomera Range Complex, a major military and civil aerospace facility in South Australia.
In Asia, Chinese shares ended lower, mirroring other regional markets, as domestic investors anticipate further economic stimulus or signs of recovery. Hong Kong shares also ended slightly lower, extending their losing streak to a sixth consecutive session. Japanese stocks ended lower as well, dragged down by falls in electronics stocks.
Investors are now focusing on the US producer inflation data due later in the day and its implications for the Fed policy.