Market Update
Asian markets edged mostly lower Friday as investors waited for the latest U.S. jobs report.
The Nikkei slipped 0.1%. The Shanghai Composite gained 0.7% while the Hang Seng was off 0.2%. The Sensex declined 0.4% and the All Ordinaries edged ahead 0.2%.
Overnight, Wall Street stocks ended lower, providing a negative lead for Asia as investors waited for cues from the March jobs report in the U.S. due later in the global trading day.
Stocks on the Move
Exporters declined in Japan on the back of a softer yen.
Shares of parent company Mitsubishi UFJ Financial were flat after a Nikkei report that said Bank of Tokyo-Mitsubishi UFJ has become the first major bank to allow contract workers to unionize on a large scale.
Seven & i Holdings fell 1.4% despite reporting a record-breaking operating profit of 339.6 billion yen for the business year ended February, the first time a Japanese retailer has broken the 300 billion yen mark for operating profit, says Japan Times.
NTT Docomo was down half a percent. A Nikkei report said the telecom major is set to invest over 400 billion yen this fiscal year to expand LTE network availability in Japan to almost all areas that are already covered by the slower 3G service.
Takeda Pharma was down 0.3% while Disco Corp. fell 2.6% even as another piece in the Nikkei said the company is set to exceed full-year operating profit forecasts. Disco shares have already risen over 5% this week.
Internet major Tencent Holdings was a big loser in Hong Kong, down 4.4%, and pulling a few other tech shares lower with it.
China Shipping Development gained 4.1% after it provided an upbeat first quarter earnings forecast.
Also among the better performers, CNOOC climbed 2.2% while PetroChina was up 1.4%.
The Sensex caught its breath, pausing after its nine-session record-creating run, just ahead of general elections due to commence in India next week Monday.
Gail India was the top loser, down 2.3%. BHEL, Airtel, ONGC, Bajaj Auto, L&T, and Sun Pharma all declined in a range between 1% and 1.9%.
In Sydney, BHP Billiton was up 0.6%. Fortescue Metals and Atlas Iron gained 1.1% and 1.6% each, respectively.
Santos climbed 2% while OZ Minerals added 2.7%.