Stocks in Asia and Europe traded higher, ahead of the U.S. nonfarm payrolls report
Stocks in Asia gained on Friday, as traders
awaited the U.S. nonfarm payrolls report. Japan's Nikkei led the way with a 0.5% advance, despite a strengthening yen and lackluster wage growth. In China, the Shanghai Composite managed a 0.4% win -- snapping its six-week losing streak -- but pared earlier gains after the Caixin services purchasing managers index (PMI) for May disappointed.
Elsewhere in Asia, Hong Kong's Hang Seng gained 0.4%, with financial and property stocks leading the way. South Korea's Kospi, meanwhile, ended 0.04% higher.
Just a day after the European Central Bank (ECB) left its
monetary policy unchanged, stocks in Europe are on the rise at midday. Outside of the upcoming U.S. jobs reports, traders are paying close attention to oil prices -- which are seemingly stabilizing after the Organization of the Petroleum Exporting Countries (OPEC) agreed to keep
oil production at current levels -- as well as a slight improvement to last month's Markit composite PMI for the eurozone. London's FTSE 100 has added 1% so far, while Germany's DAX is up 0.6% and France's CAC 40 has gained 0.5%.
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