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Friday’s World Markets Outlook: Asia-Pacific

Asian stocks extended gains Friday and were set for their biggest weekly rise since Y 2011 while the EUR hit a 1.5 month high as Europe’s central bank surprised with more stimulus, fuelling hopes for a global rebound.

Australian shares edged lower Friday, dragged by healthcare and technology stocks, as the index eased out of a four-day rally over which it gained more than 4%, while investors also awaited a Key US jobs data expected later in the day.

Hopes of an economic rebound, amid easing of lockdown restrictions and fresh stimulus, had carried the benchmark stock index to a near three-month high.

Investors Friday kept to the sidelines ahead of U.S. nonfarm payrolls data expected to be released at 1230 GMT, with the country’s unemployment rate forecast to 19.8%, a post-WWII record, from 14.7% in April.

The S&P/ASX 200 index fell 0.3% to 5,975.4 pts by 0056 GMT. The index was set to post its 6th straight week of gains. The benchmark rose 0.8% Thursday.

The New Zealand benchmark S&P/NZX 50 index fell 0.2% to 11,201.4.

SKorean shares marking the longest stretch of daily gainers in 6 months as risk sentiment remained strong on signs of swift economic recovery and fresh stimulus support.

The Korean Won and the benchmark bond yield strengthened.

Seoul stock market’s main KOSPI was up 10.06 pts, or 0.47%, at 2,161.24, as of 0205 GMT. The index is poised for a 6th session of gainers, and rose 6.49% on the week, set for its 3rd weekly gainer running.

Japanese stocks slipped as investors locked in some of the week’s gains on Friday, but a weaker yen and overall optimism about an economic rebound from a coronavirus-driven slump kept the major indexes on track for a weekly rise.

The benchmark Nikkei average dropped 0.35% to 22,616.77 by the midday break, off its more than 3-month high touched Thursday. But the index was up 3.4% on the week.

The broader Topix eased 0.33% to 1,598.51 by the midday recess, also off its more than 3-month highs, but with more than half of the 33 sector sub-indexes on the Tokyo exchange trading higher. On the week, the Topix was up 2.2%.

China stocks dipped Friday ahead of the US NFPs report and US tensions deepened, though the benchmark Shanghai index was set for the best week in 2 months on hopes that Beijing will pursue more stimulus to shore up its faultering economy.

At the midday break, the Shanghai Composite index was down 0.3% to 2,911.58 pts.

China’s blue-chip CSI300 index was down 0.3%, with its financial sector sub-index dropping 0.6%, the consumer staples sector down 0.2%, the Real Estate index down 1.6% and the healthcare sub-index dipped 0.1%.

Chinese H-shares listed in Hong Kong fell 0.4%, while the Hang Seng Index was flat at 24,370.86.

The smaller Shenzhen index fell 0.3% and the start-up board ChiNext Composite index was also fell 0.3%.

Philippines snaps 7-day winning streak. Losses in financials drag Indonesian index, Singapore, Thailand set to gain for 5th day running.

Asia-Pacific

Data as of 5 June 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:26am EDT141.52+0.77+0.55%
.TRXFLDHKPThomson Reuters Equity HK Index2:26am EDT286.07+1.11+0.39%
.TRXFLDINPThomson Reuters Equity India Index2:26am EDT1,150.11+8.81+0.77%
.N225Nikkei Stock Average 2252:15am EDT22,863.73+167.99+0.74%
.HSIHang Seng Index2:43am EDT24,583.55+217.25+0.89%
.AORDASX All Ordinaries Index2:17am EDT6,116.50+4.50+0.07%
.KS11KOSPI Index2:30am EDT2,181.87+30.69+1.43%
.SETISET Composite Index1:29am EDT1,415.95+4.94+0.35%
.JKSEJakarta Composite2:57am EDT4,922.47+5.76+0.12%
.PSIPSE Composite Index12:50am EDT6,465.13-52.36-0.80%
.SSECShanghai Composite Index2:42am EDT2,927.13+7.88+0.27%
.BSESNS&P BSE Sensex2:43am EDT34,139.55+158.85+0.47%
.FTFBMKLCIFTSE Bursa Malaysia KLCI2:42am EDT1,562.75+0.91+0.06%
.HNX30HNX 30 Index3 Jun 2020228.13+2.61+1.16%

Have a healthy weekend, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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