CXSE - Asia-Pacific stocks higher tracking global markets ahead of the monthly jobs report

2023-11-03 02:22:51 ET

Japan ( NKY:IND ) markets closed .

China ( SHCOMP ) +0.72%. China services PMI edges slightly higher to 50.4, composite fell to 50 in October

Hong Kong ( HSI ) +2.47% . The S&P Global Hong Kong SAR PMI dropped to 48.9 in October 2023 from 49.6 a month earlier.

India ( SENSEX ) +0.65% . The S&P Global India Services PMI decreased to 58.4 in October 2023 from 61.0 in September. The S&P Global India Composite PMI slipped to 58.4 in October 2023 from 61.0

Australia ( AS51 ) +1.14% . Australia services PMI contracts to 47.9, composite PMI drops to 10-month low in October

Australia retail trade for Q3 0.2% versus -0.2% expected . Meanwhile, investors remained cautious ahead of the Reserve Bank of Australia’s policy meeting next week, as stronger-than-expected economic data raised the odds of another rate hike.

In the U.S. on Thursday, all three major indexes ended sharply higher , as sentiment was boosted by the Fed's latest decision and fresh labor data amid falling Treasury yields.

Meanwhile on Thursday, The Bank of England kept its benchmark interest rate at 5.25%, keeping in the line with the global central bank trend.

U.S. stock futures slipped on Friday as Apple shares dropped more than 3% in extended trading after issuing a weak revenue outlook for the December quarter: Dow +0.16% ; S&P 500 -0.03% ; Nasdaq -0.21% .

Investors now look ahead to the monthly US jobs report on Friday to gauge the strength of the labor market and guide the rates outlook.

Investors also continued to monitor geopolitical developments in the Middle East, with the White House saying it was exploring a series of pauses in the Israel-Hamas conflict to help people safely exit Gaza and allow humanitarian aid to get in.

Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).

More on the markets

• China services PMI edges slightly higher to 50.4, composite fell to 50 in October

• Australia services PMI contracts to 47.9, composite PMI drops to 10-month low in October

• S&P notches best day since April, Dow since June; Nasdaq posts five-day win streak

• FOMC looks to be in a 'hawkish hold mode' – Wells Fargo

• 4 Key Takeaways From The Fed's Policy Meeting

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