Asian stocks fall ahead of monthly employment data in US

In this June 18, 2019, photo, a woman walks by an electronic stock board of a securities firm in Tokyo. Asian stocks fell Friday as investors waited for American employment data and details of U.S.-Chinese trade talks. (AP Photo/Koji Sasahara)

BEIJING — Asian stocks advanced Friday as investors waited for American employment data and details of U.S.-Chinese trade talks.

Benchmarks in Shanghai, Tokyo and Hong Kong rose while South Korea's was unchanged.

Investors looked ahead to monthly U.S. jobs data due out Friday, which are expected to be a factor in the Federal Reserve's decision this month on interest rates. The markets expect a solid 165,000 increase in non-farm payrolls.

The central bank has said it is prepared to cut rates to shore up the U.S. economy if trade disputes crimp growth.

Expectations are rising that central banks will adopt "more dovish stances," said IHS Markit in a report. "All incoming data will be scrutinized for last-minute policy signals."

The Shanghai Composite Index lost 0.1% to 3,009.50 and Tokyo's Nikkei 225 added 0.1% to 21,722.54. Hong Kong's Hang Seng advanced 0.1% to 28,835.59.

Australia's S&P-ASX 200 gained 0.7% to 6,767.20. Seoul's Kospi was unchanged at 2,109.93 while India's Sensex lost 0.1% to 39,878.24. New Zealand and Taiwan advanced while Southeast Asian markets were mixed.

U.S. markets were closed Thursday for the Independence Day holiday.

Last weekend's agreement by U.S. President Donald Trump and China's Xi Jinping to refrain from new tariffs pending a new round of negotiations has relieved some pressure on markets.

White House economic adviser Larry Kudlow told reporters Thursday he expected to announce new negotiations soon. Still, forecasters warn the truce is fragile because the two sides still face the disputes that caused talks to break down in May.

ENERGY: Benchmark U.S. crude lost 55 cents to $56.79 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.09 on Thursday to close at $57.34. Brent crude, used to price international oils, added 3 cents to $63.33 per barrel in London. It lost 52 cents the previous session to $63.30.

CURRENCY: The dollar was little-changed at 107.83 yen. The euro declined to $1.1281 from $1.1286.

People also read these

Most Asian markets higher after new Wall Street...

Feb 15, 2017

Most Asian stock markets are higher after U.S. stock indexes climbed further into record territory

Global markets drift ahead of Trump speech to...

Feb 28, 2017

Global stock markets traded in fairly narrow ranges Tuesday as investors awaited a speech by...

Asian markets mostly higher after Fed hike

Mar 16, 2017

Japanese stocks are lower while other Asian markets gained following a U.S. rate hike and the...

World markets mixed as US health care bill vote...

Mar 24, 2017

World stock markets are mixed after a U.S. vote on a health care bill was delayed, raising doubts...

World stocks mixed; Asia drops on Chinese...

Mar 30, 2017

World stocks were mixed Thursday, with Asian indexes falling as Chinese authorities tightened...

About Us

Biz Daily Online gives a complete understanding of the world of business to you. Get today’s business news and learn about the trends that are affecting every business here.

Contact us: sales[at]bizdailyonline.com

Subscribe Now!