Asian stocks edged higher on Friday, thanks to gains on Wall Street, but the mood was cautious before a key U.S. job report that could help determine whether the Federal Reserve cuts interest rates further.
Investors have been caught out by a set of weak U.S. data this week, including surveys on services and manufacturing sectors, deepening fears the Sino-U.S. trade war is starting to hurt growth in the world’s biggest economy.
MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.16%. Japan’s Nikkei stock index rose 0.04% and Australian shares advanced 0.29%.
U.S. stock futures fell 0.16% in Asia on Friday, though that followed a 0.80% increase in the S&P 500 on Wall Street overnight on hopes that future Fed rate cuts will support corporate profits.
Source : Reuters