Most Asian stocks dipped Friday as traders weighed the spread of the delta coronavirus strain against a record Wall Street close while awaiting key U.S. payrolls data.
Shares fell in Hong Kong and China, where Beijing’s regulatory crackdown and a warning about a possible downward spiral at China Evergrande Group — the world’s most indebted developer — subdued sentiment. Japan fluctuated, with Nintendo Co. weighing after a profit miss. U.S. contracts were little changed in the wake of fresh peaks for the S&P 500 and Nasdaq 100 on solid earnings.
India’s SGX Nifty 50 Index futures for Aug. delivery rose 0.1% to 16,322.00, while MSCI Asia Pacific Index fell 0.3%. The NSE Nifty 50 Index added 0.2% Thursday to 16,294.60.
An overnight release showing a second weekly drop in U.S. jobless claims stoked some expectations for a strong payrolls report Friday that could spark market swings. Treasuries retreated.
Crude oil headed for its biggest weekly loss this year on demand risks from Covid-19. Australia’s dollar was the weakest performer among Group of 10 currencies after the nation’s central bank governor Philip Lowe said a lower exchange rate from monetary stimulus was welcome.
Back home, Cipla, Tata Chemicals, Adani Power, Thermax, Indiabulls Housing, Gujarat Gas, Bajaj Consumer, Quess Corp, Honeywell Automation may react as the companies reported quarterly results after the market closed Thursday. Mahindra, Hindalco, SAIL, Voltas, Zee, Tata Power, Berger Paints are among the companies scheduled to report earnings Friday. Mahindra, Bandhan Bank, Thermax are holding their annual shareholders’ meetings.
Glenmark Life Sciences to debut after IPO. Foreign investors bought net Rs 3,470 crore of stocks on Wednesday, according to NSDL website.