Asian stocks rise ahead of US jobs data

Japan +1.25%. Japan May Services PMI 52.6 (before 50.7).

China Market closed.

Hong Kong market closed

Australia +0.79%. Australian Housing Data (April) shows that homeowner and investor lending both fell m/m.

May Australian Services PMI: 53.2 (before 53) & Composite 52.9 (before 52.5).

Australia shipyard PMI for May 50.4, from 55.9 in April.

India +0.86%.

Overnight on Wall Street, Dow Jones up 434.79 points or 1.33% at 33248.03, the S&P 500 up 75.64 points or 1.84% at 4176.88, while the Nasdaq was up 322.44 points or 2.69% at 12316.90.

Bank of Korea predicts inflation above 5% in June and July.

South Korean Core CPI reached its highest annual level since February 2009.

Data on construction work in New Zealand for Q1 +3.2% q/q (vs +0.5% expected).

Oil prices remained roughly unchanged on Friday, clinging to gains made in the previous session on doubts that OPEC+-owned producers could ramp up crude output enough to make up for lost supply from from Russia.

West Texas American Intermediate (WTI) crude futures rose 1 cent to $116.88 a barrel at 0112 GMT, while Crude Brent futures rose 7 cents to $117.68 a barrel.

Gold prices hit a one-month high on Friday, benefiting from a weaker US dollar which also put bullion on track for a third straight weekly gain.

Spot gold was up 0.2% at $1,871.28 an ounce, as of 0214 GMT, its highest level since May 9. Gold prices are up about 1% so far this week.

US gold futures also climbed 0.2% to $1,874.50.

Cashwhich gained 0.5% to $22.39 an ounce, is up 1.4% so far this week.

Platinum firmed 0.2% to $1,024.57 and is expected to see a weekly rise of around 7.4%, its highest since May 2021.

Palladium climbed 0.5% to $2,064.20.

US futures falling. Dow Jones -0.06%; S&P500 -0.07%; Nasdaq -0.03%.

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