Asian shares were trading mixed Friday ahead of a closely watched U.S. jobs report that may affect global interest rates. Weaker than expected earnings reports from U.S. technology companies, announced after Wall Street trading ended, pulled Chinese benchmarks lower.
Japan's benchmark Nikkei 225 added 0.4% in early trading to 27,515.13. Australia's S&P/ASX 200 gained 0.4% to 7,538.80. South Korea's Kospi added 0.6% to 2,482.08. Hong Kong's Hang Seng slipped 1.9% to 21,552.19, while the Shanghai Composite dropped 1.4% to 3,240.64.
Economists expect the U.S. jobs report to show a slowdown in hiring. The job market has largely remained resilient despite big rate hikes by the Federal Reserve over the last year.
Big tech companies have announced high-profile layoffs recently, but a report on Thursday suggested job cuts are not that widespread. Fewer workers applied for unemployment benefits last week than expected, and the number dropped to its lowest level since April.
This story is from the February 04, 2023 edition of The Statesman.
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This story is from the February 04, 2023 edition of The Statesman.
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