Asian Market Review

Asian markets are mostly higher, but little changed Friday as investors have been rattled by the economic data released this week, and by the new U.S. tariffs on European goods, but are also cautious ahead of the U.S. non-farm payrolls data due out later today. If that data is better than expected it will likely calm markets, but if it disappoints a fresh round of selling equities is expected.

Australia’s S&P/ASX 200 is up modestly, trading with a 0.2% gain as the big four banks remain weak, trading lower in the range of 0.2% to 0.9%. Aside from the banks shares are gaining on expectations the U.S. central bank will cut interest rates again as soon as their October meeting.

In Japan the Nikkei has slipped lower by 0.2%, mainly due to the strength of the Yen, which has been rallying on haven demand in response to all the disappointing economic data reported this week.

In South Korea investors have returned from their mid-week holiday and the Kospi trades up by less than 0.1% as caution has the market in a holding pattern. Taiwan’s Taiex trades up by 0.3%.

Mainland China’s markets remain closed for the “Golden Week” holiday. They will resume trading in Shanghai on October 8. Over in Hong Kong the Hang Seng has opened to a 0.2% gain as investors there continue avoiding the effect of protests that have now dragged on for over four months.

In Southeast Asia markets are trading lower, with both the KLCI in Malaysia and the Straits Times in Singapore 0.3% lower.