Asian stock markets were mixed Friday ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging inflation.
The Nikkei 225 JP:NIK in Tokyo lost 0.1%. The Hang Seng HK:HSI in Hong Kong sank 0.6% while the Shanghai Composite Index CN:SHCOMP added 0.3%.The Nikkei 225 NIK in Tokyo lost 0.1%. The Hang Seng HSI in Hong Kong sank 0.6% while the Shanghai Composite Index SHCOMP added 0.3%.
Investors looked ahead to U.S. data on August hiring to see how the economy is responding to four earlier hikes to cool inflation that is at a four-decade high. A strong reading would give ammunition to Fed officials who say higher interest rates are needed to slow economic activity and reduce upward pressure on consumer prices.
It ended August with a 4.2% loss after surging the previous month on expectations the Fed might ease off rate hikes due to signs U.S. economic activity was cooling and inflation might be leveling off.