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Asian stocks set to follow U.S. jobs rally, China in focus

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Asian stocks were likely to track a firmer Wall Street session on Friday after strong U.S. jobs data although growing Sino-U.S. tensions and a worrying surge in coronavirus cases is likely to cap gains.

FILE PHOTO: The Shanghai Stock Exchange building in the Pudong financial district in Shanghai, China February 28, 2020. REUTERS/Aly SongE-mini futures for the S&P 500 rose 0.14%.

Wall Street ended Thursday higher following a record increase in payrolls and a decline in unemployment. U.S. markets are closed on Friday in observance of Independence Day.More than 75 U.S. members of congress sent a letter to the President Donald Trump urging him to take make a formal determination on whether China’s treatment of Muslim Uighurs and other groups constitutes an atrocity.

Separately, Congress passed legislation seeking to punish banks that do business with Chinese officials who implement Beijing’s draconian new national security law on Hong Kong.

 

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I think we can stop headlining stock markets since there's now irrefutable evidence that their performance doesn't indicate economic performance.

😂 good luck... it’s about to get ugly in the US again.

So everyone is just going to ignore that the jobs numbers are complete horseshit?

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Asian stocks set to track U.S. gains but Hong Kong jitters weighAsian stocks were set to track Wall Street gains on Thursday as investors cheered signs the global economy was emerging from its coronavirus hibernation although trade is likely to be choppy as fresh concerns about Hong Kong keep investors cautious. 🌍 It’s time to speak up.heartbreaking
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