Asian stock markets concluded a mixed session on Friday, continuing to grapple with ongoing Middle East tensions while awaiting the pivotal U.S. jobs report, which could significantly influence future U.S. interest rate decisions.
In Asian trading, the U.S. dollar remained near a six-week high, while gold maintained its proximity to record levels. Oil prices stabilized following a 5% surge the previous day after U.S. President Joe Biden indicated potential Israeli strikes on Iran's oil sector were under discussion.
Shanghai markets were closed due to a week-long holiday; however, the Hang Seng index in Hong Kong climbed 2.82% to 22,736.87, bolstered by recent Chinese stimulus announcements.
Japanese markets posted marginal gains, supported by remarks from Prime Minister Shigeru Ishiba on his economic and fiscal strategy. The Nikkei average rose by 0.22% to 38,635.62 as energy shares gained from the oil price increase, and the broader Topix index climbed 0.39% to 2,694.07. Notably, Seven & I Holdings advanced 3.1% after reports emerged of the retail giant exploring the sale of its Ito-Yokado stores and supermarkets to potential buyers.
In Seoul, the stock market broke a three-day losing streak with a modest increase. The Kospi average edged up by 0.31% to 2,569.71. Hyundai Motor saw its shares rise by over 1%, while Samsung Electronics declined by 1.1%. Korea Zinc experienced a notable 8.8% surge following the announcement of a share buyback plan, amidst ongoing management disputes.
The Australian market ended the session noticeably lower even as energy stocks and gold miners rose in light of escalating Middle East tensions. The benchmark S&P/ASX 200 dropped by 0.67% to 8,150, while the broader All Ordinaries index fell by 0.68% to 8,416.60.
Meanwhile, New Zealand's S&P/NZX-50 index saw a modest gain of 0.38%, closing at 12,619.94.
In the U.S., stocks ended slightly lower overnight as anticipation of the payrolls report grew and concerns over a potential escalation of conflict in the Middle East persisted. Economic data showed weekly jobless claims saw a slight uptick, while the U.S. service sector activity reached a one-and-a-half-year high in September, propelled by robust new order growth.
The tech-focused Nasdaq Composite recorded a slight decline, the S&P 500 fell by 0.2%, and the Dow Jones Industrial Average dipped by 0.4%.
