Asian stocks up as Dow breaks record, Koreas agree to talk
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SEOUL, Korea, Republic Of — Asian stock markets were moderately higher on Friday after the Dow Jones finished above 25,000 for the first time overnight and North and South Korea agreed to hold talks in a sign of easing animosities. Investors’ focus was on the upcoming U.S. jobs reports.
KEEPING SCORE: Japan’s Nikkei 225 rose 0.2 per cent to 23,547.78 and South Korea’s Kospi gained 0.7 per cent to 2,485.32. Hong Kong’s Hang Seng index inched up 0.1 per cent to 30,748.07 while China’s Shanghai Composite Index added 0.2 per cent to 3,391.52. Australia’s S&P/ASX advanced 0.6 per cent to 6,115.90. In Southeast Asia, stocks were mostly higher.
ANALYST’S TAKE: “Global growth is currently the dominant theme for equity markets,” Rick Spooner, chief market analyst at CMC Markets, said in a daily commentary. “If the latest U.S. employment data beats expectations, it could validate this theme and lend weight to the stock market rally.”
US JOBS: The U.S. government is due to release its December jobs report later in the day. Analysts forecast that American employers added 195,000 jobs and the unemployment rate held steady at 4.1 per cent. Earlier Thursday, a report showed private U.S. businesses added 250,000 jobs last month, with smaller businesses adding 94,000.
