Asian stock markets showed mixed results as investors awaited a key U.S. employment report expected to influence the Federal Reserve’s interest rate decisions.
The upcoming nonfarm payrolls report, scheduled for release later today, is crucial in determining the extent of interest rate reductions the Fed may implement at its upcoming meeting this month.
With its primary interest rate maintained at a two-decade peak to combat inflation, the Fed has indicated possible rate cuts to prevent an economic downturn.
In morning trading, Japan’s Nikkei 225 index saw minimal change, inching up by less than 0.1% to 36,657.79.
Australia’s S&P/ASX 200 increased by 0.6% to 7,998.00, while South Korea’s Kospi dropped 1.8% to 2,529.31.
The Shanghai Composite index rose by 0.3% to 2,797.15. Meanwhile, trading in Hong Kong was suspended due to an impending typhoon.
On Wall Street, the Dow Jones Industrial Average declined by 0.5% to 40,755.75, the S&P 500 fell by 0.3% to 5,503.41, and the Nasdaq Composite rose by 0.3% to 17,127.66.
In the bond market, the yield on the benchmark U.S. 10-year Treasury notes decreased to 3.729% from 3.768% on Wednesday.
