SINGAPORE — Shares in Asia-Pacific rose in Friday morning trade as investors look ahead to the release of a private survey on China's services sector activity in August.
The Nikkei 225 in Japan rose 0.32% while the Topix index edged 0.47% higher. South Korea's Kospi climbed 0.29%.
In Australia, the S&P/ASX 200 gained 0.17%.
MSCI's largest index of Asia-Pacific shares outside Japan traded 0.13% higher.
Looking ahead, the Caixin/Markit services Purchasing Managers' Index is expected at 9:45 a.m. HK/SIN. Earlier this week, the official non-manufacturing PMI for August showed contraction in the sector for the first time since early 2020.
In corporate developments, investors will watch Hong Kong-listed shares of Alibaba following reports that the firm is set to invest 100 billion yuan (about $15.5 billion) by 2025 for "common prosperity."
Overnight stateside, the Dow Jones Industrial Average jumped 131.29 points to 35,443.82 while the S&P 500 advanced 0.28% to 4,536.95. The Nasdaq Composite edged 0.14% higher to 15,331.18.
Those gains on Wall Street came ahead of the U.S. employment report for August, set for release Friday at 8:30 a.m. ET.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.226 — off levels above 92.7 seen earlier in the week.
The Japanese yen traded at 109.91 per dollar, still stronger than levels around 110.4 seen against the greenback earlier this week. The Australian dollar changed hands at $0.7396 following its climb earlier in the week from below $0.732.
Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures slipping 0.37% to $72.76 per barrel. U.S. crude futures dipped 0.44% to $69.68 per barrel.
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September 03, 2021 at 06:54AM
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Asia-Pacific stocks rise as investors look ahead to private survey on China services activity - CNBC
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