# Asian stocks edge up before U.S. jobs data, defying Wall Street selloff Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-01-06 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Asia-Pacific shares rise as dollar hovers ahead of crucial Meta Description: Stay informed with the latest on Asian equities rising and the dollar close to a one-month peak ahead of crucial U.S. jobs data. URL: https://financedigest.com/asian-stocks-edge-up-before-u-s-jobs-data-defying-wall-street-selloffhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-01-06t023818z1lynxmpej0502trtroptp4global-markets-1736814620030-compressed.jpg) By Kevin Buckland TOKYO (Reuters) – Asian equities gained on Friday while the dollar hovered near a one-month high as investors braced for crucial U.S. jobs [data later](https://www.financedigest.com/10-steps-to-stop-lateral-movement-in-data-breaches.html "10 Steps to Stop Lateral Movement in Data Breaches") in the day that should provide clues on how aggressive the Federal Reserve will be in tightening policy. Japan’s Nikkei rose 0.39%, while [South Korea’s](https://www.financedigest.com/south-korea-has-not-supplied-lethal-weapons-to-ukraine-president-says.html "South Korea has not supplied lethal weapons to Ukraine, president says") Kospi jumped 0.77%. Australia’s [stock benchmark was 0.56% higher](https://www.financedigest.com/wall-street-stocks-power-higher-as-treasury-yields-and-dollar-ease.html "Wall Street stocks power higher as Treasury yields and dollar ease"). [Hong Kong’s](https://www.financedigest.com/hong-kong-finance-official-to-make-first-visit-to-britain-in-three-years.html "Hong Kong finance official to make first visit to Britain in three years") Hang Seng rallied 0.6%, although mainland blue chips <.CSI300) were flat in early trading. MSCI’s broadest index of Asia-Pacific shares added 0.29%, putting it on [track for a 1.55% advance for the first week](https://www.financedigest.com/oil-edges-up-but-on-track-for-big-weekly-drop-on-supply-concerns.html "Oil edges up but on track for big weekly drop on supply concerns") of 2023, its best weekly performance in a month. U.S. E-mini stock futures ticked up 0.35%, pointing to a small [bounce after the 1.16% overnight slide](https://www.financedigest.com/wall-street-bounces-oil-slides-as-markets-mull-murky-economic-picture.html "Wall Street bounces, oil slides as markets mull murky economic picture") for the S&P 500. Wall Street sold off amid worries that a robustness in the jobs market would keep the Fed raising rates for longer, after [data released on Thursday showed a bigger than expected rise in private](https://www.financedigest.com/2023-fintech-prediction-secure-and-private-data-usage-is-key.html "2023 FinTech Prediction: Secure and Private Data Usage is Key") payrolls and a drop in jobless claims. There is concern that the labor market isn’t showing any signs of cooling,” putting [financial](https://www.financedigest.com/the-political-wildcard-what-is-trumps-us-presidential-nomination-doing-to-financial-markets.html "The political wildcard: What is Trump’s US presidential nomination doing to financial markets?") markets “very much on edge”, said Tony Sycamore, a market analyst at IG. “But the important one is going to be tonight, and I don’t think the bogey man is going to be in the cupboard with tonight’s number.” According to a Reuters survey of economists, non-farm payrolls are forecast to show on Friday that 200,000 [jobs were created](https://www.financedigest.com/italy-jan-jobless-rate-edges-up-to-7-9-with-35000-jobs-created.html "Italy Jan jobless rate edges up to 7.9%, with 35,000 jobs created") in December, easing from November’s 263,000 pace. U.S. two-year [Treasury yields](https://www.financedigest.com/wall-street-drops-treasury-yields-gyrate-on-fed-chairman-powells-remarks.html "Wall Street drops, Treasury yields gyrate on Fed Chairman Powell’s remarks") spiked to a more than two-month high of 4.497% overnight but eased to 4.460% in Tokyo. The 10-year yield, which rose as high as 3.784% in New York, dropped to 3.726%. The U.S. [currency remained elevated versus major](https://www.financedigest.com/u-s-dollar-advances-vs-major-currencies-as-risk-appetite-fades.html "U.S. dollar advances vs major currencies as risk appetite fades") peers on Friday. The dollar index, which measures the greenback against six counterparts including the euro and yen, was trading little changed at 105.11 after jumping 0.91% overnight and touching 105.27 for the first [time since](https://www.financedigest.com/soccer-arsenal-reach-womens-champions-league-semis-for-first-time-since-2013.html "Soccer-Arsenal reach Women’s Champions League semis for first time since 2013") Dec. 8. The dollar index is up 1.57% this week, putting it on course to [snap a streak](https://www.financedigest.com/ftse-100-snaps-four-day-winning-streak-as-britains-ocado-slumps.html "FTSE 100 snaps four-day winning streak as Britain’s Ocado slumps") of three losing weeks. It is shaping up for the best performance since late September. The greenback added 0.27% to 133.755 yen, taking it back towards Thursday’s one-week high of 134.045. The euro [edged 0.09% higher](https://www.financedigest.com/londons-ftse-100-edges-higher-set-for-fourth-weekly-gain.html "London’s FTSE 100 edges higher, set for fourth weekly gain") to $1.05295, but remained close to the overnight low of $1.0515, a level last seen on Dec. 12. Crude oil rose, extending [gains from Thursday after data](https://www.financedigest.com/dollar-trims-gains-vs-euro-after-u-s-inflation-data.html "Dollar trims gains vs euro after U.S. inflation data") showed lower fuel inventories. \[O/R\] Brent crude futures were last 79 cents, or 1%, higher at $79.48 a barrel. U.S. West Texas Intermediate crude futures were up 80 cents, or 1.1%, at $74.47 a barrel. (Reporting by Kevin Buckland; Editing by Bradley Perrett) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---