The Tokyo Tower, left, and commercial and residential buildings in Minato district of Tokyo, Japan, on Saturday, Oct. 1, 2022. Photographer: Akio Kon/Bloomberg via Getty Images
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SINGAPORE — Asia-Pacific markets traded mixed on Friday following losses on Wall Street, with concerns over Middle East tensions keeping investors on edge in the run up to September’s U.S. payrolls report.
Hong Kong’s Hang Seng index is up over 2%, resuming a rally after slipping 1% in its first hour of trade.
Australia’s S&P/ASX 200 lost 0.46%. Japan’s Nikkei 225 added 0.34%, while the broad-based Topix inched up 0.41%. South Korea’s Kospi was trading 0.19% higher, while the Kosdaq rose 0.74%.
Markets in mainland China will reopen on Oct. 8. Chinese stocks had been on a tear after authorities announced a slew of support measures last week.
October trading has had a shaky start as rising tensions in the Middle East weigh on investor sentiment. Following a decline in stocks on Tuesday due to Iran’s missile strike on Israel, investors are bracing for more unpredictability as Israel begins a ground operation in Lebanon.
U.S. crude futures rose around 5% overnight and ticked higher again on Friday morning on concerns that Israel could strike Iran’s oil industry in retaliation for Tehran’s missile attack this week. U.S. President Joe Biden on Thursday commented on a possible Israel retaliation against Iran: “We’re discussing that. I think that would be a little — anyway.”
Overnight in the U.S., the Dow Jones Industrial Average slid 184.93 points, or 0.44%, to end at 42,011.59. The S&P 500 lost 0.17% to close at 5,699.94. The Nasdaq Composite ended the day off 0.04% at 17,918.48 as a rally of more than 3% in Nvidia capped downside pressure.
—CNBC’s Alex Harring and Pia Singh contributed to this report.
Correction: this story has been updated with the correct date for China’s market reopening.
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