HSI Ends With A Loss Ahead Of Key US Jobs Data

Hong Kong stocks finished on Friday with small losses after fluctuating throughout the day as investors trod cautiously ahead of the release of key US jobs data later in the day.

The Hang Seng Index edged down 0.1 percent, to 28,774.

On the mainland, Shanghai Composite Index gained 0.2 percent, to 3,011 and the Shenzhen Composite Index added 0.6 percent, to 1,601.

Most other Asian markets fluctuated with Tokyo closing 0.2 percent higher.

Taipei and Seoul both finished 0.1 percent higher while Sydney, Wellington, Manila and Bangkok were also in positive territory. But Singapore, Mumbai and Jakarta edged down.

The jobs report is a closely watched gauge of the state of the world's biggest economy and a below-forecast reading would ramp up hopes the Fed will announce a 50-basis-point reduction.

"Today's US payrolls report has the potential to upset the apple cart when it comes to whether or not we can expect to see a Fed rate cut later this month, and if we do whether it will be 25 or 50 basis points," said Michael Hewson, chief market analyst at CMC Markets UK.

And Pepperstone Group head of research Chris Weston added that "a number in line with consensus probably delivers that July cut and I think that's what the market wants to see".

"If we get a really strong number, I think risk could really come off the table," he told Bloomberg News. (AFP)