Lola Evans
05 Aug 2022, 17:29 GMT+10
SYDNEY, NSW, Australia - Stocks in Asia rose on Friday ahead of U.S. payroll data due to be released later in the day. The U.S. dollar was mixed while bond yields eased.
"We're waiting to see a slowdown in the labour market, so if we get a large miss, it will finally confirm the labour market is slowing, and we'll see some more rallies in U.S. treasuries," Prashant Bhayani, chief investment officer for Asia at BNP Paribas Wealth Management told Reuters Thomson Friday.
"The bond market is saying there is a pretty high chance of recession, while the equity market is focused on the labour data, said Bhayani.
The Australian All Ordinaries increased 42.80 points or 0.59 percent to 7,250.30.
South Korea's Kospi Composite rose 17.69 points or 0.72 percent to 2,490.80.
In Japan, the Nikkei 225 added 243.67 points or 0.87 percent to 28,175.87.
China's Shanghai Composite strengthened 37.99 points or 1.19 percent to 3,227.03.
Going against the trend, New Zealand's S&P/NZX 50 dipped 7.00 points or 0.06 percent to 11,728,47.
In Hong Kong, the Hang Seng firmed 27.90 points or 0.14 percent to 20,201.94.
On foreign exchange markets, demand for the U.S. dollar wavered. The rose strengthened to 1.02 33 by the Sydney close Thursday. The British pound slipped slightly to 1.2139. The Japanese yen was little changed at 0.9556, as was the Swiss franc at 0.9556.
The Canadian dollar edged down to 1.2875. The Australian dollar softened to 0.6958. The New Zealand dollar was slightly off at 0.6289.
Overnight on Wall Street, the Nasdaq Composite rose 52.42 points or 0.41 percent to 12,720.88.
The Dow Jones industrials declined 85.68 points or 0.26 percent to 32,726.82.
The Standard and Poor's 500 slipped 3.22 points or 0.08 percent to 4,151.95.
Get a daily dose of Argentina Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Argentina Star.
More InformationWASHINGTON D.C.: Jennifer Homendy, head of the US National Transportation Safety Board, has said the US will investigate recent near ...
MIAMI, Florida: Four Chinese citizens living in Florida have sued the state over a new law barring citizens of China ...
OSLO, Norway: Norwegian Defense Minister Bjoern Arild Gram has said that Norway would conduct training programs for Ukrainian pilots in ...
LOS ANGELES, California: Reuters has reported that California is seeking approval from the the Biden administration to require all new ...
LONDON, England: As part of Prime Minister Rishi Sunak's measures to bring down annual net migration, which reached a record ...
LONDON, England: An elderly woman, Helen Holland, struck two weeks ago by a police motorcycle escorting Sophie, the Duchess of ...
MENLO Park, California: As part of the last stage of a three-series round of staff layoffs, part of a plan ...
WASHINGTON D.C.: On its website, the US Federal Trade Commission (FTC) has said it is probing Abbott Laboratories and other ...
Representative Mike Gallagher, chair of the U.S. House of Representatives committee on China, says that after Beijing banned the sale ...
NEW YORK, New York - A relief rally hit Wall Street Friday as lawmakers made some progress on the debt ...
ALEXANDRIA, Virginia: Boeing Chief Executive Dave Calhoun said sector-wide supply chain problems that have hampered global jetliner production might not ...
SAN FRANCISCO, California: US semiconductor toolmaker Applied Materials Inc has said it plans to spend up to $4 billion on ...