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Saudi Arabia stocks lower at close of trade; tadawul all share down 0.70pc

Saudi Arabia stocks were lower after the close on Thursday, as losses in the Energy & Utilities, Real Estate Development and Financial Services sectors led shares lower. At the close in Saudi Arabia, the Tadawul All Share lost 0.70 percent to hit a new 6-months low. Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 151 to 113 and 22 ended unchanged. Crude oil for November delivery was down 0.36 percent or 0.30 to $83.92 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.47 percent or 0.40 to hit $85.41 a barrel, while the December Gold Futures contract fell 0.15 percent or 2.75 to trade at $1,832.05 a troy ounce. EUR/SAR was unchanged 0.06 percent to 3.95, while USD/SAR unchanged 0.01 percent to 3.75.

European stock markets climb at open

European stock markets climbed at the start of trading on Friday, as attention turned to monthly US jobs data and its impact on the outlook for interest rates. London’s benchmark FTSE 100 index grew 0.3 percent to 7,476.14 points. In the eurozone, Frankfurt’s DAX index gained 0.3 percent to 15,115.10 points and the Paris CAC 40 advanced 0.2 percent to 7,013.55.

London stocks rise

UK shares opened higher on Friday at the end of a turbulent week, as investors awaited monthly US jobs report for more clues on the Federal Reserve’s interest rate trajectory. The blue-chip index FTSE 100 rose 0.3 percent by 0708 GMT, while the mid-cap index added 0.4 percent. Soaring government bond yields on expectations of higher interest rates have roiled equity markets this week, putting both the indexes on track for their worst week in seven. Following a mixed jobs reports earlier this week, focus would now be on the more comprehensive September US non-farm payrolls data, due later in the day, for clues on whether the Fed would keep rates higher for longer.

Hong Kong stocks open higher

Hong Kong stocks were up in early trade Friday, shaking off Wall Street losses ahead of key US jobs data. The Hang Seng Index ticked up 1.50 percent, or 258.41 points, to 17,472.28 points. Mainland Chinese markets were closed for a holiday.

Stocks climb in calm before potential us payrolls storm

A lull in bond selling stretched into Asia trade on Friday, but may not last the day as investors waited on US jobs data that could add to the case for keeping interest rates high for some time.

Sliding oil prices have also provided some relief to markets, with Brent crude futures at $84.50 a barrel, some $13 or 13.5 percent cheaper than last week’s 11-month high.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8 percent.

Tokyo’s Nikkei was flat and currency markets were similarly steady with the dollar just off recent highs as traders looked to the labour data for guidance.

Australian shares inch higher

Australian shares inched up on Friday in a volatile trading session, as a rise in financial stocks overshadowed the losses in gold and energy stocks, while investors awaited US payroll data.

The S&P/ASX 200 index rose 0.1 percent to 6929.6 points by 2332 GMT, while falling about 1.6 percent this week.

The benchmark rose 0.5 percent on Thursday.

US data on initial claims for state unemployment benefits pointed to still-resilient labor market conditions, a day after a report showing US private payrolls increased less than expected in September.

Investors are now waiting for US monthly payrolls report, scheduled for release later in the day, as they remain concerned about whether the Federal Reserve would keep interest rates higher for longer.

Indian shares open higher

Indian shares opened higher on Friday, tracking a rise in global equities on easing US yields and cooling crude prices, ahead of the Reserve Bank of India’s monetary policy decision where the bank is expected to stand pat on key rates.

The NSE Nifty 50 index was up 0.28 percent at 19,602.30, as of 09:15 a.m. IST, and the S&P BSE Sensex rose 0.30 percent to 65,836.50.

Sri Lanka shares end lower

Sri Lankan shares closed lower on Thursday, dragged by losses in industrial and financial stocks, while the country’s central bank resumed interest rate cuts, in line with expectations, to boost growth.

The CSE All Share index settled down 0.3 percent at 11,042.95.

The Central Bank of Sri Lanka (CBSL) on Thursday lowered the standing deposit facility rate and the standing lending facility rate by 100 basis points each to 10 percent and 11 percent, respectively. The cuts followed a decision at the last policy meeting in August to keep rates unchanged.

The rate cut was in line with market expectations and comes amid cooling inflation in the South Asian country.

Tokyo shares close higher

Tokyo shares snapped a five-day losing streak and closed higher on Thursday following Wall Street gains after US Treasury yields retreated.

The benchmark Nikkei 225 index gained 1.80 percent, or 548.48 points, to end at 31,075.36, while the broader Topix index jumped 2.02 percent, or 44.87 points, to 2,263.76.

“The US employment report was seen as a sign of easing labour supply and demand, and the US 10-year bond yield dropped against the backdrop of a sharp fall in oil prices,” Iwai Cosmo Securities said.

“The Tokyo market continued the trend of a rebound in all three major US indexes.”

The US private sector added just 89,000 jobs in September according to payroll firm ADP, and the hiring slowdown could ease pressure on policymakers to raise interest rates further.

While the 10-year US Treasury note hit a 16-year peak earlier this week, it retreated on Wednesday, providing some reprieve.