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MANILA, Philippines — MANILA, Philippines (AP) — Most Asian stock indexes rose on Thursday, tracking gains on Wall Street following a topsy-turvy trading day.

U.S. futures were nearly flat, while oil prices were higher.

Japan’s Nikkei 225 rose 0.8% to 48,069.71 as investor sentiment was lifted by a strong start to the earnings season and expectations of U.S. rate cuts.

Japan’s core machinery orders, excluding ships and electric power, fell 0.9% month-on-month in August, missing market expectations for a 0.4% gain but showing marked improvement from a 4.6% drop in July, according to data released Thursday.

South Korea’s Kospi surged to a record high, adding 1.8% to 3,722.67 on buying of tech and auto stocks that was spurred by expectations that the U.S. and Korea are getting closer to a deal on tariffs on Korean exports. Samsung Electronics and automakers Hyundai Motor and Kia Corp. were among gainers.

In Chinese markets, Hong Kong’s Hang Seng index shed 0.4% to 25,799.27, while the Shanghai Composite index rose 0.1% to 3,916.10.

Australia’s S&P/ASX 200 climbed 8% to 9,063.70, breaching the 9,000 level for the first time amid gains in gold stocks. Miners in resource-rich Australia are benefitting from a runup in gold prices. Early Thursday, the precious metal was up 1.2% at 4,252.30 per ounce.

Also, the jobless rate rose to 4.5% in September, the highest in four years, stepping up expectations that the country’s Reserve Bank may resume rate cuts as early as next month.

India’s BSE Sensex added 0.5% while Taiwan’s Taiex advanced 1.5%.

On Wednesday, most U.S. stocks rose. The S&P 500 added 0.4% to 6,671.06, but only after jumping toward one of its biggest gains since the summer, erasing it all and then climbing back.

The Nasdaq composite climbed 0.7%, closing at 22,670.08 after earlier pinballing between a drop of 0.4% and a rally of 1.4%. The Dow Jones Industrial Average lagged the market, shedding less than 0.1% to 46,253.31.

Technology stocks helped lead the way Wednesday following a better-than-expected profit report from Netherlands-based ASML, a major equipment supplier to the semiconductor industry. It expects its revenue for 2025 to be 15% above last year’s, while next year’s should be at least as high as this year’s. Several big banks also drove the market higher.

Companies are under pressure to deliver strong profits after their stock prices broadly surged 35% from a low in April. To justify those gains, which critics say made their stock prices too expensive, companies will need to show they’re making much more in profit and will continue to do so.

Profit reports are under more scrutiny than usual as investors seek insights into the health of the U.S. economy. The U.S. government’s latest shutdown is delaying important updates on the economy, such as a report on inflation that was due Wednesday.

In other dealings early Thursday, U.S. benchmark crude oil gained 58 cents to $58.85 per barrel. Brent crude, the international standard, rose 55 cents to $62.46 per barrel.

The dollar rose to 151.07 Japanese yen from 151.06 yen. The euro climbed to $1.1658 from $1.1648.

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AP Business Writers Stan Choe and Matt Ott contributed.

Workers at an under-threat oil refinery have accused ministers of “sitting on their hands”.

At a rally on Wednesday, members of the Unite union called for urgent action to secure the future of Lindsey Oil Refinery, which was taken over by the Official Receiver in June when Prax Group went into administration.

About 255 employees remain at the site in North Lincolnshire after 125 were told they would be made redundant this month. A jobs fair will be held in Immingham later to support them.

Speaking in the Commons, Energy Minister Michael Shanks said the government wanted to “support as much investment in that site as possible”.

Dave Smith, a Prax worker and union representative, said: “We’ve been asking the government for help and support – we know the country needs the fuel security, and yet they seem to be sitting on their hands.

“Everyone has been left scratching their heads wondering why we are in this position.”

Sub-contractor Anne Holmes, 63, said the site supported about 1,000 people, including those in the supply chain, and its closure would “a huge knock-on effect”.

“It’s not just the Prax employees, it’s the rest of us who work here as well,” she said.

“I’m an older person and I’m not going to get another job – this is it for me.”

Last week, an investment group expressed interest in joining forces with the government to buy the refinery.

In a debate in the House of Commons on Tuesday, Conservative MP Martin Vickers, who represents Brigg and Immingham, said the government “should be taking a more proactive role in determining the future of the refinery”.

He said “at least two investors” were “looking to take over the whole site” and asked whether the government would back this.

In response, Shanks said the Official Receiver was “considering a number of bids to make sure they are viable” and he would be happy to have conversations with Vickers on the subject.

Speaking at the rally, Sharon Graham, general secretary of the Unite union, said workers had been badly let down and urged the government to invest in green fuel production at the site.

“Ed Miliband again is missing in action, and we have a Labour government, and I’m sorry to say it, with absolutely no plans for the oil and gas industry,” she added.

The Insolvency Service said there were “ongoing discussions with a number of parties to progress bids with the objective of achieving a sale of the business”.

A jobs fair hosted by Grimsby Jobcentre was held at Immingham Civic Centre.

Representatives from British Steel, Myenergi, Humberside Engineering Training Association, Navigo and Associated British Ports attended the event, according to the Local Democracy Reporting Service.

Nick Gregory, the a manager at the job centre, said: “This is a very difficult time for those supply chain employees and their families and our hearts go out to them.”

The government has also offered a training guarantee designed to help workers find new employment.

Additional reporting by Ivan Morris-Poxton, Local Democracy Reporting Service.