Stocks Gain, Yen Surges as Focus Shifts to US Jobs – Asia Market Wrap

Asia’s equities rose, as did futures contracts for US and European stocks, as technology firms rallied. The yen jumped ahead of US employment data anticipated later Friday.

Hong Kong stocks led increases in regional equities, which reached their highest level since February. Equities gained in Korea and Australia, but were closed for trade in mainland China and Japan.

US non-farm payroll data, coming later Friday, becomes the next major possible trigger for markets after Federal Reserve Chairman Jerome Powell essentially put discussions of a probable rate rise to bed, while still leaving the door open for rate reduction later this year. The expected growth of 240,000 would be the lowest since November.