Friday, December 3

Asian markets mixed in early trade, Tokyo edges up after trading outage

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China’s stock and bond markets, foreign exchange and commodity futures markets are closed Oct. 1-8 for the Golden Week holiday. South Korea and Hong Kong markets are also closed on Friday for holidays.

US markets kicked off the fourth quarter by closing higher while the dollar sank, with investors tracking stimulus talk updates throughout the day.

The Dow Jones Industrial Average rose 0.13% on Thursday. The S&P 500 gained 0.53% and the Nasdaq Composite added 1.42%.

US consumer spending is starting to slow due to a shaky jobs market. If policymakers cannot agree on more support, the US economy could lose more momentum.

The focus shifts to the Labor Department’s report on non-farm payrolls and the jobless rate later Friday, following new layoff announcements from the likes of Disney and Goldman Sachs.

The dollar index was quoted at 93.811, close to a one-week low due to doubts about US stimulus talks. The Chinese yuan, Australian, New Zealand and Canadian dollars have all gained against the greenback.

Spot gold fell 0.4% to $1,897.41 an ounce, adding to its worst month since November 2016, while oil prices continued to fall, adding to a 10% September drop.

Brent crude futures were trading down 1.0% at $40.52 a barrel in Asia on Friday, while US crude futures were down 1.03% at $38.33 a barrel.

Oil prices fell more than 3% on Thursday as rising coronavirus cases around the world dampened the demand outlook, while a rise last month in member output from the Organization of the Petroleum Exporting Countries also pressured prices.

(Reporting by Pete Schroeder; Editing by Muralikumar Anantharaman and Richard Pullin)