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GLOBAL MARKETS-Asian markets mixed in early trade, Tokyo edges up after trading outage

Published 10/02/2020, 10:10 AM
Updated 10/02/2020, 10:20 AM
XAU/USD
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MIAPJ0000PUS
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* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Traders await payrolls, but sentiment is weak
* U.S. stimulus talks bog down
* Tokyo bourse reopens after trading halt on Thursday
* China, South Korea and Hong Kong markets shut for holiday

By Stanley White and Pete Schroeder
TOKYO/WASHINGTON, Oct 2 (Reuters) - Asian markets were
little changed on Friday, as a U.S. stimulus deal remained out
of reach and investors waited on fresh U.S. employment data for
a read on the economic toll from the coronavirus pandemic.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was down 0.11%. Australia's benchmark S&P/ASX
200 index .AXJO fell 0.86% as a decline in oil and copper
prices weighed on the resources sector.
Japan's Nikkei 225 index .N225 was up 0.19% after the
Tokyo Stock Exchange (TSE) resumed normal trading after its
worst-ever outage brought the world's third-largest equity
market to a standstill. U.S. stock futures ESc1 fell 0.23% as an additional
economic stimulus package remained elusive despite renewed
efforts from Washington negotiators. After a day of negotiations, House Speaker Nancy Pelosi told
reporters she did not expect an imminent agreement with the
Trump administration. It remains unclear if policymakers can get
something done before the Nov. 3 election. "The risk is that if disposable incomes continue to fall,
the recovery in personal spending will slow or even reverse. The
fiscal stimulus stalemate suggests additional government support
payments to households are unlikely soon," said Commonwealth
Bank of Australia currency analyst Kim Mundy in a note.
China's stock and bond markets, foreign exchange and
commodity futures markets are closed Oct. 1-8 for the Golden
Week holiday. South Korea and Hong Kong markets are also closed
on Friday for holidays.
U.S. markets kicked off the fourth quarter by closing higher
while the dollar sank, with investors tracking stimulus talk
updates throughout the day.
The Dow Jones Industrial Average .DJI rose 0.13% on
Thursday. The S&P 500 .SPX gained 0.53% and the Nasdaq
Composite .IXIC added 1.42%. U.S. consumer spending is starting to slow due to a shaky
jobs market. If policymakers cannot agree on more support, the
U.S. economy could lose more momentum. The focus shifts to the Labor Department's report on
non-farm payrolls and the jobless rate later Friday, following
new layoff announcements from the likes of Disney DIS.N and
Goldman Sachs GS.N . The dollar index was quoted at 93.811 =USD , close to a
one-week low due to doubts about U.S. stimulus talks. The
Chinese yuan, Australian, New Zealand and Canadian dollars have
all gained against the greenback. Spot gold XAU= fell 0.4% to $1,897.41 an ounce, adding to
its worst month since November 2016, while oil prices continued
to fall, adding to a 10% September drop.
Brent crude futures LCOc1 were trading down 1.0% at $40.52
a barrel in Asia on Friday, while U.S. crude futures CLc1 were
down 1.03% at $38.33 a barrel.
Oil prices fell more than 3% on Thursday as rising
coronavirus cases around the world dampened the demand outlook,
while a rise last month in member output from the Organization
of the Petroleum Exporting Countries also pressured prices.
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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
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