Investing.com - Asian stock markets were mixed in cautious trade on Tuesday, as investors awaited the release of U.S. nonfarm payrolls data later in the day to help assess the timing for a reduction in the Federal Reserve’s bond purchasing program.
During late Asian trade, Hong Kong's Hang Seng Index shed 0.4%, Australia’s ASX/200 Index ended 0.4% higher, while Japan’s Nikkei 225 Index closed up 0.13%.
The delayed September nonfarm payrolls report, which had been originally scheduled for release on October 4, will be published later Tuesday.
Market players have closely been looking out for U.S. data reports recently to gauge if they will strengthen or weaken the case for the Fed to reduce its stimulus program.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
In Tokyo, the Nikkei erased earlier losses to close near the previous session’s three-week high as the yen weakened against the U.S. dollar, boosting sentiment.
USD/JPY rose to hit a daily high of 98.35, moving off the previous session’s low of 97.89. A weaker yen increases the value of overseas income at Japanese companies when repatriated, improving the outlook for export earnings.
Toyota saw shares rise 1.1%, while Nikon and Sharp advanced 1.25% and 1.7%.
Index heavyweights Fast Retailing and Softbank saw shares climb 0.75% and 1.9% respectively.
Elsewhere, in Australia, the ASX/200 Index advanced to the highest level since May 2008 as sentiment remained supported amid easing concerns over China’s economic outlook.
Australian commodity producers are heavily reliant on Chinese demand for raw materials.
BHP Billiton gained 2.35% after saying first-quarter iron-ore production jumped by 23% from the same period a year earlier. The mining giant also raised its forecast for full-year iron-ore production.
Meanwhile, in Hong Kong, the Hang Seng edged lower after index heavyweight China Mobile sold off after posting its largest drop in profit since 1999.
The world’s largest phone company lost 3.7% after saying that third-quarter net income fell 8.8% to CNY28.4 billion, below expectations for CNY31.1 billion.
Looking ahead, European stock market futures pointed to a modestly lower open.
The EURO STOXX 50 futures pointed to a loss of 0.2% at the open, France’s CAC 40 futures shed 0.15%, London’s FTSE 100 futures indicated a flat open, while Germany's DAX futures pointed to a loss of 0.15% at the open.
The U.K. was to release data on public sector net borrowing later Tuesday.
During late Asian trade, Hong Kong's Hang Seng Index shed 0.4%, Australia’s ASX/200 Index ended 0.4% higher, while Japan’s Nikkei 225 Index closed up 0.13%.
The delayed September nonfarm payrolls report, which had been originally scheduled for release on October 4, will be published later Tuesday.
Market players have closely been looking out for U.S. data reports recently to gauge if they will strengthen or weaken the case for the Fed to reduce its stimulus program.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
In Tokyo, the Nikkei erased earlier losses to close near the previous session’s three-week high as the yen weakened against the U.S. dollar, boosting sentiment.
USD/JPY rose to hit a daily high of 98.35, moving off the previous session’s low of 97.89. A weaker yen increases the value of overseas income at Japanese companies when repatriated, improving the outlook for export earnings.
Toyota saw shares rise 1.1%, while Nikon and Sharp advanced 1.25% and 1.7%.
Index heavyweights Fast Retailing and Softbank saw shares climb 0.75% and 1.9% respectively.
Elsewhere, in Australia, the ASX/200 Index advanced to the highest level since May 2008 as sentiment remained supported amid easing concerns over China’s economic outlook.
Australian commodity producers are heavily reliant on Chinese demand for raw materials.
BHP Billiton gained 2.35% after saying first-quarter iron-ore production jumped by 23% from the same period a year earlier. The mining giant also raised its forecast for full-year iron-ore production.
Meanwhile, in Hong Kong, the Hang Seng edged lower after index heavyweight China Mobile sold off after posting its largest drop in profit since 1999.
The world’s largest phone company lost 3.7% after saying that third-quarter net income fell 8.8% to CNY28.4 billion, below expectations for CNY31.1 billion.
Looking ahead, European stock market futures pointed to a modestly lower open.
The EURO STOXX 50 futures pointed to a loss of 0.2% at the open, France’s CAC 40 futures shed 0.15%, London’s FTSE 100 futures indicated a flat open, while Germany's DAX futures pointed to a loss of 0.15% at the open.
The U.K. was to release data on public sector net borrowing later Tuesday.