Thursday, July 31, 2014   

Asian shares mostly up before US jobs report
(02-06 16:38)

Asian markets mostly rose on bargain-buying Thursday but sentiment remains weak following a recent global sell-off, with investors sidelined before the release of US government jobs data.
Wall Street provided a tepid lead and the dollar was slightly lower against the yen after a private US jobs report proved inconclusive, AFP reports.
Tokyo, which spent most of the day in positive territory, surrendered in late trade to close down 0.18 percent, or 25.26 points, at 14,155.12.
However, Sydney rose 1.21 percent, or 61.1 points, to 5,131.4 and Seoul added 0.88 percent, or 16.57 points, to 1,907.89. Hong Kong climbed 0.72 percent, or 153.75 points, to end at 21,423.13.
Shanghai and Wellington were closed for public holidays.
The turmoil of the past week has subsided briefly before the non-farm payrolls figure due on Friday, which will give traders a better handle on the state of the US economy.
"The tension in the buildup to Friday's US non-farm payroll data is heavy with the increased uncertainty over where the US economy is headed,'' said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.
World markets were sent into a tailspin last week on fears for the global economy, fueled by downbeat US and Chinese manufacturing data as well as the Federal Reserve's decision to further reduce its stimulus programme.
Most economists tip further selling if Friday's employment data misses expectations.
A report by payrolls firm ADP on Wednesday showed the US private sector added 175,000 jobs in January, slightly below the forecast 178,000.
However, analysts said the figures may have been skewed by the severe cold weather over the past few weeks.   
Other Business breaking news:
Nikkei up by break (29 secs ago)
IMF expects China's economy to grow 7.5pc in 2014 (4 mins ago)
Fed leaves policy unchanged despite stronger growth (14 mins ago)
HSBC accused of being Islamophobic (25 mins ago)
Samsung Electronics' Q2 profit falls (1 hr 10 mins ago)
Nikkei rises at open (1 hr 17 mins ago)
Hong Kong stocks up at open (1 hr 18 mins ago)
European stocks down before US data (07-30 19:00)
Singapore Airlines profit slumps in first quarter (07-30 18:45)
Eurozone banks ease loan conditions for businesses: ECB (07-30 18:29)

More breaking news >>

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