Investing.com – Asian stocks are mixed during Friday’s session a day after U.S. equities surged. Traders in Asia digested some regional data points with eyes toward the U.S. April non-farm payroll report due out later Friday.
In Asian trading, Hong Kong’s Hang Seng jumped 0.77%. Japanese markets are closed for a public holiday. The Shanghai Composite surged 1.39%.
Chinese equities have been under some pressure recently due to tepid data points, but some analysts see opportunities with stocks in the world’s second-largest economy as lower dependency on credit could help facilitate steadier economic growth in the future.
Australia’s S&P/ASX 200 jumped 1% even after the Australian Bureau of Statistics said producer price inflation there rose 0.3% in the first quarter, topping analysts’ estimates for 0.2% increase.
Strength in financial services shares buoyed the gains in Sydney. Shares of investment bank Macquarie Group surged on a strong earnings report while Westpac climbed higher after announcing it will pay a special dividend.
The risk on tenor to the session did not make its way to New Zealand where the NZSE 50 traded lower by 0.64%.
Singapore’s Straits Times Index dipped 0.69% after the SIPMM Central Office said that Singapore’s purchasing manufacturing index fell to 50.3 in April from 50.6 in March. Analysts expected an April reading of 51. Readings above 50 indicate expansion.
South Korea’s Kospi inched up 0.08% even after the Bank of Korea warned against the expansion of the yen-fueled carry traded. The carry trade is arises when trades borrow in a low interest rate currency such as the to purchase high interest rate currencies such as the Australian and New Zealand dollars.
The central bank also warned against a dangerous unwinding of carry trades if the euro zone sovereign debt crisis worsens.
S&P 500 futures inched lower by 0.04% ahead of April jobs report Friday before the open of U.S. markets. Economists are expecting the addition of 145,000 new jobs. The U.S. unemployment rate is currently 7.6%.
In Asian trading, Hong Kong’s Hang Seng jumped 0.77%. Japanese markets are closed for a public holiday. The Shanghai Composite surged 1.39%.
Chinese equities have been under some pressure recently due to tepid data points, but some analysts see opportunities with stocks in the world’s second-largest economy as lower dependency on credit could help facilitate steadier economic growth in the future.
Australia’s S&P/ASX 200 jumped 1% even after the Australian Bureau of Statistics said producer price inflation there rose 0.3% in the first quarter, topping analysts’ estimates for 0.2% increase.
Strength in financial services shares buoyed the gains in Sydney. Shares of investment bank Macquarie Group surged on a strong earnings report while Westpac climbed higher after announcing it will pay a special dividend.
The risk on tenor to the session did not make its way to New Zealand where the NZSE 50 traded lower by 0.64%.
Singapore’s Straits Times Index dipped 0.69% after the SIPMM Central Office said that Singapore’s purchasing manufacturing index fell to 50.3 in April from 50.6 in March. Analysts expected an April reading of 51. Readings above 50 indicate expansion.
South Korea’s Kospi inched up 0.08% even after the Bank of Korea warned against the expansion of the yen-fueled carry traded. The carry trade is arises when trades borrow in a low interest rate currency such as the to purchase high interest rate currencies such as the Australian and New Zealand dollars.
The central bank also warned against a dangerous unwinding of carry trades if the euro zone sovereign debt crisis worsens.
S&P 500 futures inched lower by 0.04% ahead of April jobs report Friday before the open of U.S. markets. Economists are expecting the addition of 145,000 new jobs. The U.S. unemployment rate is currently 7.6%.