Modupe Gbadeyanka
By Investors Hub
Asian stocks ended mixed on Friday as oil extended a steep drop from the previous session and investors looked ahead to the release of U.S. Labor Department’s closely watched monthly jobs report. Markets in China and Japan remained closed for holidays.
U.S. employment is expected to increase by 185,000 jobs in April following the addition of 196,000 jobs in March, while the unemployment rate is expected to hold at 3.8 percent.
Hong Kong’s Hang Seng Index climbed 137.37 points or 0.5 percent to 30,081.55 as the U.S. and China ended their latest round of trade negotiations in Beijing after “productive meetings.”
Australian markets fluctuated before ending little changed. Both the S&P/ASX 200 Index and the All Ordinaries Index finished marginally lower at 6,335.80 and 6,427.20, respectively.
National Australia Bank edged down slightly after slashing its dividend for the first time in a decade. The other three banks inched up between 0.1 percent and half a percent.
Investment bank Macquarie Group slumped 5.4 percent after warning that its result for fiscal 2020 result will be slightly lower amid the impact of potential regulatory changes and tax uncertainties.
Woodside Petroleum, Santos, Origin Energy and Oil Search dropped 1-2 percent after oil prices fell almost 3 percent on Thursday on oversupply fears.
On the other hand, medical device developer Resmed soared 10 percent on upbeat third quarter results.
Seoul stocks fell notably, with technology and auto companies pacing the decliners. The benchmark Kospi dropped 16.43 points or 0.7 percent to 2,196.32.
New Zealand shares fell from a record high hit on Thursday, with the benchmark S&P/NZX 50 Index ending down 27.67 points or 0.3 percent at 10,058.08.
