HONG KONG — Asian stocks were mixed Friday after a steady Thursday on Wall Street as markets anticipated the release of key U.S. jobs data later in the day.Japan’s benchmark Nikkei 225 edged 0.1% lower to 38,683.93 after Friday data showed household spending in April was up 0.5% year-on-year. This was the first increase since February 2023 and is a key indicator in assessing the country’s economy as central bank officials prepare to hold a policy meeting next week.
Big Lots tumbled 18.2% after reporting a larger loss for the latest quarter than expected. The retailer said it missed targets for sales because its customers are continuing to pull back on spending, particularly for things that aren’t essentials. Later Friday, the U.S. government is to release its monthly update on the job market. Economists expect it to show a slight acceleration in hiring and average hourly wage gains from the month before.
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Hong Kong Woos Saudi Money in Attempt to Revive Stock MarketHong Kong is turning to oil-rich Saudi Arabia for new funds to help offset a growing list of challenges facing its stock market.
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