Hang Seng Index, ASX 200, Nikkei Index: Asian Markets Brace for US Jobs Report
Meanwhile, the Hang Seng Index was down 0.25% on Friday morning. Real estate and tech stocks contributed to the losses as investors awaited the US Jobs Report.
The Hang Seng Mainland Properties (HSMPI) slid by 1.11%, while the Hang Seng Tech (HSTECH) Index fell by 0.93%.
Alibaba (9988) gained 0.62%. However, Tencent (0700) declined by 0.26%, with Baidu (9888) flat.
A hotter-than-expected US Jobs Report could sink investor bets on a September Fed rate cut and rate-sensitive Hang Seng Index-listed stocks.
The Mainland China equity markets also had a negative start to the Friday session. The Shenzhen Composite and CSI 300 were down 0.29% and 0.49%, respectively.
Concerns about an all-out trade war between the EU and China impacted Mainland and Hong Kong-listed stocks. From Friday, July 5, the EU plans to introduce provisional tariffs on electric vehicle imports from China as talks between the EU and China continue.
Bloomberg Economics Western Europe Team Leader Zoe Schneeweiss shared the news, saying,
“EU moves ahead with provisional tariffs on EV imports from China.”
While tariffs hurt China, the weaker Yen continued to draw investor interest.
Nikkei Bucked the Trend on Weak Household Spending
This article was originally published by a www.fxempire.com
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