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Dec. 5, 2019, 11:39 p.m. EST

Asian markets inch up ahead of U.S. jobs report

Nikkei, Hang Seng advance as China offers reassurance that trade talks are on track

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By Marketwatch and Associated Press


Bloomberg News
Stocks gained Friday in Hong Kong.

Asian markets gained in early trading Friday after a senior Chinese official said negotiations for a phase-one trade deal with the U.S. are progressing.

Gao Feng, China’s minister of commerce, said Thursday that negotiators are in “close communication” and offered reassurances despite recent tensions. However, he also emphasized that China insists on a rollback of existing tariffs to be included as a part of any resolution.

Stocks in Wall Street gained slightly Thursday, ahead of Friday’s jobs report, which economists anticipate as containing good news.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.39%   rose 0.3% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.60%   gained 0.7%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.96%   was about flat while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -1.38%   inched up 0.3%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.39%   advanced 0.8%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.66%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.53%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.66%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.66%   were little changed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.62%   rose 0.3%.

Among individual stocks, Kobe Steel /zigman2/quotes/207391157/delayed JP:5406 -3.47%   gained in Tokyo trading while oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +4.72%   fell. In Hong Kong, Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +1.13%   and Tencent /zigman2/quotes/204605823/delayed HK:700 -5.04%  rose. Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.86%   surged in South Korea, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +0.35%   jumped in Australia.

Investors are hoping that the world’s two biggest economies will reach a trade deal before new U.S. tariffs go into effect Dec. 15 on some popular products made in China, including smartphones.

“Whether or not U.S.-China can cut a deal remains the obsession; arguably the only game in town heading into ahead of the 15-Dec deadline for the next round of tariffs fall due,” Mizuho Bank said in a commentary.

Investors will be looking for clues into the state of the U.S. economy from the Labor Department’s November tally of hiring by nonfarm employers, to be released later Friday. Economists expect the unemployment rate to hold steady at 3.6%.

“You’ve had some mixed economic data this week, so the market probably wants to wait and see what we get tomorrow morning,” said Willie Delwiche, investment strategist at Baird.

On Thursday, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.06%   rose 0.2% to 3,117.43. Even with the latest gain, the benchmark index is on track for a weekly loss, though it’s still up 24.4% for the year. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.17%   gained 0.1% to 27,677.79. The Nasdaq /zigman2/quotes/210598365/realtime COMP -0.87%   added less than 0.1% to 8,570.70.

Stocks fell early in the week after President Donald Trump said he wouldn’t mind waiting for a trade deal beyond the 2020 elections. The indexes rebounded Wednesday on a report that Washington and Beijing could be on track for a trade deal before the new tariffs kick in next week.

Benchmark crude oil   lost 21 cents to $58.22 per barrel in electronic trading on the New York Mercantile Exchange. It was unchanged at $58.43 a barrel on Thursday. Brent crude oil  , the international standard, shed 28 cents to $63.11 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0076%   fell to 108.69 Japanese yen from 108.74 yen on Thursday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,329.94
-88.21 -0.39%
Volume: 0.00
Aug. 7, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,531.62
-398.96 -1.60%
Volume: 1.61M
Aug. 7, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,354.04
-32.43 -0.96%
Volume: 40.39B
Aug. 7, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,272.66
-31.86 -1.38%
Volume: 51.00B
Aug. 7, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,351.67
+9.06 +0.39%
Volume: 812,594
Aug. 7, 2020 3:32p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
12,828.87
-84.63 -0.66%
Volume: 0.00
Aug. 7, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,545.51
-13.59 -0.53%
Volume: 0.00
Aug. 7, 2020 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,578.14
-10.43 -0.66%
Volume: 0.00
Aug. 7, 2020 5:05p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,143.89
-34.38 -0.66%
Volume: 0.00
Aug. 7, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,004.80
-37.40 -0.62%
Volume: 612,541
Aug. 7, 2020 5:26p
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/zigman2/quotes/207391157/delayed
JP : Japan: Tokyo
¥ 362.00
-13.00 -3.47%
Volume: 4.02M
Aug. 7, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥131.30 billion
Rev. per Employee
¥52.09M
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/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 666.00
+30.00 +4.72%
Volume: 15.23M
Aug. 7, 2020 3:00p
P/E Ratio
8.39
Dividend Yield
3.60%
Market Cap
¥972.50 billion
Rev. per Employee
¥291.81M
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/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 53.70
+0.60 +1.13%
Volume: 9.55M
Aug. 7, 2020 4:08p
P/E Ratio
17.90
Dividend Yield
1.69%
Market Cap
HK$232.82 billion
Rev. per Employee
HK$1.44M
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 527.50
-28.00 -5.04%
Volume: 62.12M
Aug. 7, 2020 4:08p
P/E Ratio
47.50
Dividend Yield
0.23%
Market Cap
HK$5010.89 billion
Rev. per Employee
HK$8.27M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
57,500.00
-500.00 -0.86%
Volume: 18.75M
Aug. 7, 2020 3:30p
P/E Ratio
18.35
Dividend Yield
2.46%
Market Cap
₩384406.87 billion
Rev. per Employee
N/A
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.44
+0.0050 +0.35%
Volume: 6.89M
Aug. 7, 2020 4:10p
P/E Ratio
5.72
Dividend Yield
1.39%
Market Cap
$3.27 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,351.28
+2.12 +0.06%
Volume: 2.28B
Aug. 7, 2020 5:10p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,433.48
+46.50 +0.17%
Volume: 324.93M
Aug. 7, 2020 5:10p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,010.98
-97.09 -0.87%
Volume: 3.85M
Aug. 7, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
105.9200
-0.0080 -0.0076%
Volume: 0.0000
Aug. 7, 2020 4:59p
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