HomeMarket NewsAsia-Pacific Markets Mostly Rise Ahead of Key Non-Farm Payrolls Report

Asia-Pacific Markets Mostly Rise Ahead of Key Non-Farm Payrolls Report

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Japan -0.26%: In August, inflation adjusted (real) wages in Japan declined by 2.5% year-on-year. Household spending in Japan also decreased by 2.5% year-on-year.

China market closed.

Hong Kong +1.52%: Hong Kong’s market led gains in the region, driven by performance in the financial and technology sectors.

India +0.46%: The Reserve Bank of India kept its benchmark policy repo rate at 6.5%, in line with market expectations.

Australia +0.41%: Retail sales in Australia increased by 0.2% month-on-month in August 2023.

In the U.S. on Thursday, all three major indexes saw slight losses. The Nasdaq Composite closed 0.12% lower, the S&P 500 slipped 0.13%, and the Dow retreated 0.03%.

Investors are anticipating the release of a key monthly jobs report, which is expected to show a decrease in job additions compared to the previous month.

Currencies: JPY:USD, CNY:USD, AUD:USD, INR:USD, HKD:USD, NZD:USD.

U.S. stock futures steadied on Friday: Dow -0.13%, S&P 500 -0.12%, Nasdaq -0.01%.

ETFs: JEQ, EWJ, DXJ, FXY, FXI, KWEB, CQQQ, MCHI, ASHR, YINN, TDF, CHIQ, GXC, EWH, KBA, YANG, CXSE, CAF, CWEB, PGJ, KURE, CHIX, CYB.

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Asia-Pacific Markets Rise Ahead of Key Non-Farm Payrolls Report

Asia-Pacific markets mostly saw positive momentum as investors awaited the release of the non-farm payrolls report, a key indicator of the US labor market. Here’s a breakdown of the market performance in major Asian economies:

Japan’s Economic Indicators

In Japan, the benchmark index declined by 0.26%. The country saw a 2.5% year-on-year decrease in inflation-adjusted wages and a 2.5% year-on-year decline in household spending.

Hong Kong’s Strong Performance

Hong Kong’s market emerged as a regional leader with a 1.52% increase. This growth was primarily driven by the performance of financial and technology stocks, which boosted the overall index.

India’s Steady Growth

India’s market exhibited steady growth, with a 0.46% increase. The Reserve Bank of India maintained its benchmark policy repo rate at 6.5% for the fourth consecutive meeting, in line with market expectations.

Australia’s Retail Sales

Australia experienced a 0.41% increase in its market. Retail sales in the country rose by 0.2% month-on-month in August 2023, following a 0.5% gain in July.

US Stock Market Update

In the United States, all three major indexes – the Nasdaq Composite, S&P 500, and Dow – closed with slight losses. The Nasdaq Composite decreased by 0.12%, the S&P 500 slipped by 0.13%, and the Dow retreated by 0.03%.

Anticipation for Non-Farm Payrolls Report

Investors are eagerly awaiting the release of the non-farm payrolls report for September. Market expectations suggest that the US economy added fewer jobs compared to the previous month, which could have an impact on investor sentiment.

Currencies and US Stock Futures

Key currency pairs include JPY:USD, CNY:USD, AUD:USD, INR:USD, HKD:USD, and NZD:USD.

U.S. stock futures stabilized on Friday, with the Dow showing a minor decrease of 0.13%, the S&P 500 slipping by 0.12%, and the Nasdaq experiencing a minimal decline of 0.01%.

Exchange-Traded Funds (ETFs)

Popular ETFs include: JEQ, EWJ, DXJ, FXY, FXI, KWEB, CQQQ, MCHI, ASHR, YINN, TDF, CHIQ, GXC, EWH, KBA, YANG, CXSE, CAF, CWEB, PGJ, KURE, CHIX, CYB.

Conclusion

As investors eagerly anticipate the release of the non-farm payrolls report, the Asia-Pacific markets experienced mixed performance. While Japan faced economic challenges with a decline in wages and household spending, Hong Kong, India, and Australia saw positive growth. The US stock market, on the other hand, had a modest decline. Overall, the labor market report will play a crucial role in shaping investor sentiment in the coming days.

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