Asian Stocks Mixed as Oil Prices Slip After a Record Session

This post was originally published on this site

https://i-invdn-com.akamaized.net/news/LYNXMPEB380HB_M.jpg
© Reuters. © Reuters.

By Gina Lee

Investing.com  Asian stock markets were mixed on Friday morning as they gave back some of their earlier gains on the back of a jump in oil prices.

Japan’s  gained 0.32% by 10:33 PM ET (3:33 AM GMT) and neighboring South Korea’s  gained 0.48%.

Down Under, the  lost its earlier gains to drop 0.41%.

Hong Kong’s  was up by 2.24%. China’s  lost 0.14 % while the  was up 0.23%.

Meanwhile, the United States announced overnight that it received a record last week.

On the COVID-19 front, the World Health Organization said that there are 900,306 global cases of the COVID-19 pandemic as of April 2.

Investors are bracing for more economic turbulence.

The U.S. labor market “has more or less collapsed in the past two weeks,” Commonwealth Bank of Australia’s Joseph Capurso said in a note.

“It is only the beginning because more US states are applying lockdowns,” and the data indicates the nonfarm payrolls report for April due later today will likely indicate a “large jump in unemployment” he added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.