Arab Today, arab today asian stocks mostly up ahead of us jobs data
Last Updated : GMT 05:49:56
Arab Today, arab today
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Asian stocks mostly up ahead of US jobs data

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Arab Today, arab today Asian stocks mostly up ahead of US jobs data

Hong kong - AFP

Asian markets were mostly higher Friday as traders awaited the release of US jobs data, while Tokyo took a hit as the dollar fell a day after breaking through the 100-yen level. The gains came after another positive lead from Wall Street, with economists expecting a healthy rise in employment will give the US Federal Reserve another reason to begin winding down its huge stimulus programme. But Tokyo\'s benchmark Nikkei index tumbled 1.45 percent, or 204.01 points, to 13,860.81 while the Topix index of all first-section shares declined 0.87 percent, or 10.02 points, to 1,147.82, amid speculation that the capital would fail in its bid to host the 2020 Olympic Games adding to downward pressure. Early gains quickly eroded as investors hit the sell button on growing speculation that Madrid beat Tokyo and Istanbul in the race to stage the Olympics. \"A great deal of buying had taken place based on expectations for a Tokyo win, but this optimism is apparently fading,\" Tachibana Securities market advisor Kenichi Hirano said. \"And so the air is now coming out of sectors seen benefiting from the infrastructure spending that would have ensued, such as the construction and real estate sectors,\" Hirano added. General contractor Kajima fell 2.16 percent to 361 yen while engineering and construction firm Taisei Corp. slipped 4.00 percent to 407 yen and property giant Mitsubishi Estate lost 2.46 percent to 2,699 yen. Adding to selling pressure was a fall in the value of the dollar against the yen. The greenback, which on Thursday broke above 100 yen for the first time since July, dipped to 99.58 yen Friday, compared with 100.12 yen late in New York. In other trading, Docomo rose 0.56 percent to 160,500 yen on reports that Japan\'s largest mobile carrier would soon start selling Apple\'s iPhone, making it the last of the country\'s three biggest providers to stock the smartphone. Hong Kong\'s Hang Seng index rose 0.10 percent, or 23.25 points, to 22,621.22 and Shanghai climbed 0.83 percent, adding 17.56 points to 2,139.99. Sydney was flat, edging up 2.5 points to end at 5,145 and Seoul finished 0.19 percent, or 3.66 points, up at 1,955.31. On oil markets New York\'s main contract, West Texas Intermediate for delivery in October, rose 28 cents to $108.65, while Brent North Sea crude for October added five cents to $115.32. Gold cost $1,368.80 an ounce at 0810 GMT compared with $1,395.70 late Thursday. In other markets: -- Taipei ended flat, edging down 4.90 points to 8,164.2. PC maker Acer fell 0.99 percent to Tw$20.1 while Taiwan Semiconductor Manufacturing Co. rose 0.49 percent to Tw$102.0. -- Manila advanced 0.26 percent, or 15.40 points, to 5,974.62. Philippine Long Distance Telephone added 0.86 percent to 2,810 pesos, while SM Investments advanced 1.47 percent to 692 pess and Alliance Global was up 0.57 percent at 26.25 pesos. -- Wellington fell 0.16 percent, or 7.17 points, to 4,597.18. Telecom added 0.23 percent to N$2.21, while Fletcher Building fell 1.4 percent to NZ$9.28 and Fisher & Paykel Healthcare shed 2.5 percent to NZ$3.58.

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