Asian equities closed mixed on Thursday as investors assessed weaker-than-expected US economic reports and awaited Friday’s closely watched non-farm payrolls data for further direction.
Hong Kong stocks lead gains
Hong Kong stocks rose for a third consecutive session, marking the longest winning streak in nearly a month, as fresh data signaled continued expansion in China’s services sector.
The Hang Seng Index climbed 1.1% to 23,906.97, its highest close since March 20.
The three-day, 3.2% advance was the benchmark’s best run since May 12. The Hang Seng Tech Index rose 1.9%.
China’s Shanghai Composite and the CSI 300 Index each added 0.2%.
The Caixin China services purchasing managers’ index rose to 51.1 in May from 50.7 in April, surpassing the consensus estimate of 51 in a Bloomberg survey.
A reading above 50 indicates growth.
Japanese stocks decline on bond auction weakness
Japanese markets ended lower as a lackluster 30-year bond auction – the weakest since 2023 – renewed pressure on the government to rework debt issuance plans.
Investors were also cautious ahead of the fifth round of US-Japan trade talks focused on tariffs.
The Nikkei 225 slipped 0.51% to 37,554.49, while the broader Topix lost 1.03% to close at 2,756.47.
Automakers led losses. Honda and Toyota fell around 2.7% each, while Suzuki Motor dropped 3% amid reports that it had halted production of its Swift model due to China’s rare earth restrictions.
Other regional markets
Seoul stocks extended gains for a third session, reaching the highest level in nearly a year.
Optimism was fueled by the new administration’s plans to reopen dialogue with North Korea and strengthen ties with the US and Japan.
The Kospi jumped 1.49% to 2,812.05, led by large-cap tech names. Samsung Electronics rose 2.3% and SK Hynix gained 3.2%.
Australian shares were volatile and closed marginally lower after April trade data fell short of expectations.
Earlier gains faded during the session amid broader regional uncertainty.
Indian equity benchmarks ended in the green for a second straight session on June 5, with the Nifty closing above the 24,750 mark.
The Sensex rose 443.79 points, or 0.55%, to settle at 81,442.04, while the Nifty gained 130.70 points, or 0.53%, to close at 24,750.90.
Among the top Nifty gainers were Eternal, Dr. Reddy’s Laboratories, Trent, Power Grid Corporation, and ICICI Bank.
US markets on Wednesday
Wall Street ended narrowly mixed in choppy midweek trade, as investors weighed disappointing economic indicators against expectations for Friday’s labor market report.
The Dow Jones Industrial Average slipped 91.90 points, or 0.2%, to 42,427.74.
The S&P 500 edged up 0.44 points to 5,970.81, while the Nasdaq Composite advanced 61.53 points, or 0.3%, to 19,460.49.
Both the S&P 500 and Nasdaq notched their highest closing levels in more than three months, despite the day’s range-bound moves.
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