Asian stocks fall as investors watch US jobs data

Asian stock markets on Friday after Wall Street hit record highs as investors awaited U.S. employment data for updates on how the coronavirus awakening is affecting the world’s largest economy.

Shanghai and Seoul declined as Tokyo advanced. Hong Kong and Sydney haven’t changed much.

The Wall Street Benchmark S&P 500 Index was obtained after investors were encouraged on Thursday by a reduction in jobless claims in the United States. They looked at Friday’s monthly employment report to show how relapse of a new disease and renewed disease control are affecting jobs and wages.

“The jobs report will be an important highlight to conclude this week,” IG’s Yeap Jun Rong said in a report.

The Shanghai Composite Index fell 0.5% to 3,449.85, while the Hang Seng Index in Hong Kong was flat at 26,206.75. Chinese stocks have been hit by a series of anti-trust and data security campaigns launched by Beijing against tech companies.

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The Nikkei 225 in Tokyo was 27,819.20, up 0.3% after Japanese workers’ cash incomes fell in June for the first time in four months.

Seoul’s Kospi fell 0.3% to 3,265.74 and Sydney’s ASX-S & P200 was 7,513.20, almost unchanged.

Indian Sensex opened 0.1% at 54,540.97. New Zealand, Bangkok and Jakarta declined, but Singapore rose.

On Wall Street, the S&P 500 rose 0.6% to 4,429.10. The Dow Jones Industrial Average rose 0.8% to 35,064.25. The Nasdaq rose 0.8% to 14,895.12.

Technology, retail and consumer values ​​have increased. As bond yields rose, banks made more money, which allowed them to charge more for their loans. Inventories of health care products and equipment declined.

On Thursday, the Labor Ministry announced that jobless claims fell by 14,000 last week, raising expectations for a recovery in the labor market. It showed the private sector was creating jobs at a slower-than-expected rate in July, following a weak report from payroll company ADP on Wednesday.

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In the energy market, benchmark US crude climbed 14 cents to $ 69.23 per barrel in e-commerce on the New York Stock Exchange. The deal added 94 cents to $ 69.09 on Thursday. Brent crude, the international standard for oil prices, rose 16 cents in London to $ 71.45 a barrel. The last session was up 91 cents to $ 71.29.

The dollar fell from 109.76 yen on Thursday to 109.82 yen. The euro went from $ 1.1836 to $ 1.1826.