Sunrise in the Bund area of Shanghai, China, on November 2, 2023.
James D. Morgan | James D. MorganGetty Images News | Getty Images
Asia-Pacific markets opened higher on Friday, tracking gains on Wall Street New labor market data It boosted investor confidence in the U.S. economy and eased recession fears after a sharp market selloff earlier this week.
Australian futures S&P/ASX 200 Index up 0.72%. Japanese Nikkei 225 Index rose 1.63%, while the Topix gained 1.43%. Korean Cospi The small-cap Kosdak index rose 1.43%, and the small-cap Kosdaq index rose 2.67%.
Hong Kong Hang Seng Index futures were at 17,147 points, higher than the Hang Seng Index’s last closing point of 16,891.83 points.
Global stocks and currencies tumbled earlier this week U.S. employment data Recession fears return, investors start to Unwind the yen “carry trade”.
Investors are paying attention to China’s consumer price index and producer price index in July. A Reuters poll of analysts expects China’s CPI to increase by 0.3% year-on-year, compared with a 0.2% increase last month. Reuters economists also predict that China’s PPI will fall by 0.9%.
Overnight in America, S&P 500 Index It rose 2.3% to close at 5,319.31 points, its best single-day performance since November 2022. Dow Jones Industrial Average It rose 683.04 points, or 1.76%, to 39,446.49 points. this Nasdaq Index It rose 2.87% to close at 16,660.02.
Applying for Unemployment Insurance for the First Time Last week’s total was lower than expectedcountering other signs of labor market weakness. The U.S. Labor Department reported on Thursday that 233,000 people filed for initial unemployment benefits last week, down 17,000 from the previous week and below the Dow Jones estimate of 240,000, adding to markets amid signs of slowing job growth. got some comfort.
—CNBC’s Hakyung Kim and Jesse Pound contributed to this report.
