TOKYO — Global shares mostly rose Friday in cautious trading ahead of an update on the U.S. jobs market.
In Asian trading, Japan's benchmark Nikkei 225 fell 0.3% to finish at 30,994.67. Australia's S&P/ASX 200 rose 0.4% to 6,954.20. South Korea's Kospi edged up 0.2% to 2,408.73. Hong Kong's Hang Seng jumped 1.6% to 17,485.98. Investors worry that too strong a U.S. job market could add to upward pressure on inflation. That’s why the Fed has raised its main interest rate to the highest level since 2001, to intentionally slow the economy.
A recent pullback in the price of oil has offered some relief on the inflation front for both U.S. households and the Federal Reserve. After surging from $70 in the summer to more than $93 last week, the price of a barrel of benchmark U.S. crude has slumped sharply. Brent crude, the international standard, gained 18 cents to $84.25 per barrel.
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