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)

Asian stock markets gain as investors wait for American employment data and details of U.S.-Chinese trade talks

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.

You may also like these

China says it can't end North Korea nuke program...

Sep 12, 2016

China says the United States has inflamed the conflict on the Korean Peninsula and must carry the...

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

China pledges further cuts in excess steel, coal...

Jan 10, 2017

China's top economic planner has pledged to continue cutting steel and coal production, which have...

China state media call Trump's Taiwan strategy...

Jan 16, 2017

China's state-run media says President-elect Donald Trump "speaks like a rookie" and called his...

Malaysia Air on rebound as missing flight search...

Jan 17, 2017

Nearly three years after twin disasters took it to the brink of financial collapse, Malaysia...

Sign up now!

The Financial Capital is your independent source for finance information and advice. We provide insights and offer advice from financial experts so you can make the best decisions.

Contact us: sales[at]thefinancialcapital.com