Asian stocks closed mixed on Friday, with any gains limited as investors headed for the wings ahead of the release of key US employment figures due out later in the day, dealers said.
They said the jobs data should provide a further lead on whether or not the cycle of US interest rate hikes was nearing an end while events elsewhere were also weighing on sentiment and limiting gains.
The two main concerns remain North Korea's threat to mount further missile tests and ongoing tensions with Iran over its nuclear ambitions which have pushed oil prices to record highs, adding another squeeze on inflation.
Tokyo, Taipei, Hong Kong, Singapore and Kuala Lumpur were flat.
Seoul closed 0.79 percent higher after the Bank of Korea's decision to hold rates steady with the aim of limiting any economic impact from North Korea's missile tests.
However profit-takers pushed Shanghai down 0.66 percent while Bangkok eased 0.41 percent and Jakarta improved 0.59 percent. Mumbai plunged 2.40 percent on political uncertainty.
Sydney managed a 0.29 percent gain on the back of Wall Street but turnover was thin suggesting that investors remained cautious, wanting to see what the latest US employment report had to say on the outlook for interest rates.
Taipei
Share prices closed little changed in moderate trade, with investors preferring the sidelines amid concerns over North Korea's missile tests and high global oil prices.
Dealers said the benchmark finished in positive territory thanks to rotational interest in select technology bellwethers, helping to offset heavier losses posted by construction shares and China plays.
The weighted index closed up 1.54 points or 0.02 percent at 6,660.61 on turnover of NT$73.16 billion (US$2.26 billion).
The market was expected to continue consolidating in the coming week due to lingering uncertainties about geopolitical developments that may push oil prices higher and trigger a fresh spate of inflation and rate hike worries.
"Like in the previous session, the benchmark index went nowhere, as rotational plays among select technology bellwethers offset steeper losses in construction shares and China plays," Fubon Securities Investment Services manager Daniel Tseng (
Taiwan Semiconductor Manufacturing Co was down NT$0.20 at NT$56.90.
TOKYO
Share prices closed little changed as investors turned cautious ahead of key US jobs data later in the day.
Dealers said worries about possible further missile tests by North Korea also prompted players to cover their positions ahead of the weekend.
The Nikkei-225 index dipped 13.79 points or 0.09 percent to 15,307.61.
Volume was 1.41 billion shares, down from 1.52 billion on Thursday.
"Investors are increasingly nervous ahead of the US payrolls data," said Mitsushige Akino, a fund manager at Ichiyoshi Investment Management.
The employment report should provide a fresh lead on the outlook for further interest rate rises by the US Federal Reserve following 17 straight quarter-point increases to the current level of 5.25 percent, dealers said.
Worries about North Korea also weighed on sentiment.
"Investors also fear that North Korea may again fire missiles over the weekend, worsening geopolitical tensions," said Akino at Ichiyoshi Investment.
Nippon Telegraph and Telephone (NTT) rose ?14,000 to ?560,000.
SEOUL
Share prices closed 0.79 percent higher on Friday with investors welcoming the Bank of Korea's decision to hold rates steady with the aim of limiting any economic impact from North Korea's missile tests, dealers said.
They said there was a risk the North Korean missile launches
on Wednesday could be followed by others, further dampening investor confidence even as the government and central bank have warned about a slower second half performance.
The KOSPI index rose 9.97 points at 1,273.93, off a low of 1,267.99 and a high of 1,278.94 on volume was 88 million shares worth 2.5 trillion won (US$2.6 billion). Rises outnumbered falls by 478 to 267.
Foreign investors were net buyers of shares worth 55 billion won while institutions and retail investors were net sellers of 51.2 billion won and 8.4 billion won.
Hong Kong
Share prices closed little changed as investors traded cautiously ahead of key employment data in the US later in the day.
The Hang Seng Index closed up 18.79 points at 16,459.78. Turnover was thin at HK$21.35 billion (US$2.7 billion).
Jackson Wong, investment manager at Tanrich Securities, said the market was lackluster "ahead of the weekend and US employment report."
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