Asian markets end higher on Friday

03 Jun 2016 Evaluate

Asian equity markets ended higher on Friday as investors shrugged off OPEC's decision against an output cut and looked ahead to the release of the closely-watched monthly US jobs report tonight that could provide more clues on the timing of US rate increases. The US jobs report is expected to show an increase of about 158,000 jobs in May, with the jobless rate seen edging down to 4.9 percent. While a firmer close on Wall Street overnight and steadier commodity prices offered support, but gains were capped by a stronger yen and data showing slowing business activity growth in China for the second month in a row. Chinese shares posted their best weekly gain since March as hopes for inclusion of A-shares into the world's biggest indexes helped investors shrug off disappointing services sector data. Activity in China's services sector continued to expand in May, albeit at a slower pace, the latest survey from Caixin revealed a services PMI score of 51.2, underscoring fading growth momentum in the world's second-largest economy. Japanese shares eked out modest gains in thin trade despite the yen rising for the fourth consecutive session against the dollar.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,938.68	13.45	0.46
Hang Seng	20,947.24	88.02	0.42
Jakarta Composite	4,853.92	20.70	0.43
KLSE Composite	1,636.46	5.93	0.36
Nikkei 225	16,642.23	79.68	0.48
Straits Times	2,809.23	14.14	0.51
KOSPI Composite	1,985.84	0.73	0.04
Taiwan Weighted	8,587.36	31.34	0.37

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