Asian Markets Gain, Led by South Korea, as Focus Shifts to US Jobs Data
Asian equities moved higher on Friday, with South Korea's benchmark rising 1.3%, as investors shrugged off geopolitical concerns and continued to favor tech shares. Wall Street remained under pressure after two down days, while US futures stabilized ahead of the July nonfarm payrolls report.
Most Asian equity benchmarks edged higher in Friday's session, led by a 1.3% advance in South Korean shares. Investors looked past lingering geopolitical tensions and maintained their preference for technology stocks, which provided broad support to regional indices.
In the US, Wall Street faced a third day of potential weakness after posting two straight declines. However, trading in US equity futures pointed to a steadier open as the session progressed, suggesting that selling pressure might ease.
Market attention is now firmly on the upcoming US July nonfarm payrolls report, which will be scrutinized for clues on the health of the labor market and the Federal Reserve's next policy steps.
Source: First Squawk