Asian stocks were seen trading a little changed on the last day of the trading week.
Japan
The Japanese benchmark Nikkei 225 index slid 0.01% lower, closing at 15,077.24, while Tokyo’s Topix index edged 0.15% higher, ending the session at 1,234.57.
The Japanese corporation Sumco Corp saw gains during the session with an 11.33% climb to 914 yen, while the pharmaceutical and biotechnology company Kyowa Hakko Kirin added 2.78%. Barclays upgraded shares to overweight.
China
Hong Kong’s Hang Seng index fell 0.28% lower to 23,044.72, while the Chinese mainland Shanghai Composite edged 0.75% lower to 2,025.61.
Warf Holding was the top winner during the session, gaining 1.37%, while Hong Kong & China Gas Co. Lost more than 2%.
In Australia, the nation’s S&P/ASX 200 index added 0.50%, closing 5,464.00 higher.
Stocks – Europe
Stocks in Europe opened higher on Friday after the European Central Bank (ECB) reduced its key interest rate and lowered the deposit rate into negative territory at its policy meeting on Thursday. Investors digested the economic report from Germany, while the US jobs report is expected to released later in the day.
The European Euro Stoxx 50 added 0.26% to 3,275.42, while the German DAX edged 0.23% higher to 9,971.06.
The French CAC 40 rose 0.16% higher to 4,555.84 at the time of writing, while the UK’s benchmark FTSE 100 gained 0.30% at 6,833.79.
Economic Reports
Germany, eurozone’s largest economy posted figures for the nation’s industrial production, which showed a rise of 0.2% in April on a monthly basis and a rise of 1.8% in April on an annual basis.
A separate report released showed that Germany’s foreign trade figures showed a higher trade surplus at 17.4 billion euros in April, while the nation’s current account dropped to 18.4 billion euros in April.
Meanwhile in Spain, the nation’s industrial sector posted a drop in April, with the index coming in at 1.9% year-on-year, measured non-seasonally adjusted basis.
US Jobs Data
As traders wait for the US non-farm payrolls data to be released, the market are expecting to see an addition of 215,000 new-farm payrolls in May, while the jobless rate is forecasted to have climbed to 6.4% in May from the previous figures of 6.3%.
“These employment figures really need to be over 300,000 each month to undo the disastrous first quarter growth in the US. As such the market reaction could sour to anything less than 250,000,” Jasper Lawler, market analyst at CMC Markets UK, said in a note.
ECB Rate Cut
As forecasted by the market, the European Central Bank concluded its Thursday meeting by cutting its key interest rate to 0.15% from its previous all-tine low of 0.25%, by 10 basis points. While the marginal lending facility rate was trimmed down from 0.75% to 0.4%, while the deposit facility rate was reduced to minus 0.1%.
European Central Bank President Mario Draghi unveiled a series of targeted Long-Term Refinancing Operations of 400 billion euros in attempt to avoid deflation.
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Stocks – Asia
Asian stocks were seen trading a little changed on the last day of the trading week.
Japan
The Japanese benchmark Nikkei 225 index slid 0.01% lower, closing at 15,077.24, while Tokyo’s Topix index edged 0.15% higher, ending the session at 1,234.57.
The Japanese corporation Sumco Corp saw gains during the session with an 11.33% climb to 914 yen, while the pharmaceutical and biotechnology company Kyowa Hakko Kirin added 2.78%. Barclays upgraded shares to overweight.
China
Hong Kong’s Hang Seng index fell 0.28% lower to 23,044.72, while the Chinese mainland Shanghai Composite edged 0.75% lower to 2,025.61.
Warf Holding was the top winner during the session, gaining 1.37%, while Hong Kong & China Gas Co. Lost more than 2%.
In Australia, the nation’s S&P/ASX 200 index added 0.50%, closing 5,464.00 higher.
Stocks – Europe
Stocks in Europe opened higher on Friday after the European Central Bank (ECB) reduced its key interest rate and lowered the deposit rate into negative territory at its policy meeting on Thursday. Investors digested the economic report from Germany, while the US jobs report is expected to released later in the day.
The European Euro Stoxx 50 added 0.26% to 3,275.42, while the German DAX edged 0.23% higher to 9,971.06.
The French CAC 40 rose 0.16% higher to 4,555.84 at the time of writing, while the UK’s benchmark FTSE 100 gained 0.30% at 6,833.79.
Economic Reports
Germany, eurozone’s largest economy posted figures for the nation’s industrial production, which showed a rise of 0.2% in April on a monthly basis and a rise of 1.8% in April on an annual basis.
A separate report released showed that Germany’s foreign trade figures showed a higher trade surplus at 17.4 billion euros in April, while the nation’s current account dropped to 18.4 billion euros in April.
Meanwhile in Spain, the nation’s industrial sector posted a drop in April, with the index coming in at 1.9% year-on-year, measured non-seasonally adjusted basis.
US Jobs Data
As traders wait for the US non-farm payrolls data to be released, the market are expecting to see an addition of 215,000 new-farm payrolls in May, while the jobless rate is forecasted to have climbed to 6.4% in May from the previous figures of 6.3%.
“These employment figures really need to be over 300,000 each month to undo the disastrous first quarter growth in the US. As such the market reaction could sour to anything less than 250,000,” Jasper Lawler, market analyst at CMC Markets UK, said in a note.
ECB Rate Cut
As forecasted by the market, the European Central Bank concluded its Thursday meeting by cutting its key interest rate to 0.15% from its previous all-tine low of 0.25%, by 10 basis points. While the marginal lending facility rate was trimmed down from 0.75% to 0.4%, while the deposit facility rate was reduced to minus 0.1%.
European Central Bank President Mario Draghi unveiled a series of targeted Long-Term Refinancing Operations of 400 billion euros in attempt to avoid deflation.
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