Asian Daily Market Review 6.12.19

Asian markets were broadly higher Friday as investors looked ahead to the U.S. non-farm payrolls due out later in the day, while also betting the December 15 deadline would pass without the U.S. imposing additional tariffs on Chinese goods.

In Japan the Nikkei is trading 0.3% higher on investor’s optimism over the U.S.-China trade negotiations and as the Yen has seemingly found a bottom versus the U.S. dollar. Even though the broader market is higher, shares of Softbank have retreated 0.4%, and Sony is falling 0.6%. Offsetting that somewhat is a 0.7% rise in Fast Retailing shares.

In Australia, the S&P/ASX 200 is climbing 0.3% higher as it continues to rebound from the substantial losses suffered early in the week. Despite the broader market is higher, there are losses across many sectors. Both the miners and the oil space are lower, while the big four banks and gold miners are mixed.

In mainland China, the Shanghai Composite has a gain of 0.2%, while the smaller-cap Shenzhen Composite is rising twice as much with a 0.4% gain. Over in Hong Kong, the Hang Seng is outperforming, rising 0.7% and extending gains from the prior session.

South Korea’s Kospi is leading the region, adding 0.8% as index heavyweight Samsung has jumped 2.2% higher at the open. Taiwan’s Taiex has a gain of 0.4%.

In Southeast Asia, the markets are broadly, but modestly higher. The Straits Times in Singapore is trading up by 0.2%, while Malaysia’s KLCI and the Jakarta Composite in Indonesia are matching it with their own 0.2% additions.

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