SINGAPORE — Japanese stocks shed some gains and the yen rose after local media reported former Japanese Prime Minister Shinzo Abe was taken to hospital after an apparent shooting.
The Nikkei 225 was up 0.73% and the Topix index 0.83% after the lunch break. Both indexes were up more than 1% earlier in the day.
The yen last traded at 135.50 to the dollar. Earlier in the session, it was at 135.9 to the dollar.
Reuters reported that Abe is still a heavyweight in Japan’s ruling Liberal Democratic Party.
Australia’s S&P/ASX 200 rose 0.9%.
The South Korean Kospi gained 1.24%, while the Kosdaq rose 1.69%.
The Hang Seng index in Hong Kong jumped 1.31% in early trading, with the Hang Seng Tech index rising almost 2%.
Mainland China markets were higher. The Shanghai Composite rose 0.65%, while the Shenzhen Component rose 0.737%.
But fears of higher prices and an economic slowdown remain.
“The risk there, of course, would be increased inflation and on top of that there’s also the risk of an impending recession,” DBS chief investment officer Hou Wey Fook told “Squawk” on Friday. Box Asia” from CNBC.
The U.S. Bureau of Labor Statistics is expected to release its nonfarm payrolls data on Friday in the United States. Economists expect a gain of 250,000 jobs for June, according to a Dow Jones survey. That would be less than the 390,000 jobs added in May.
In company news, SoftBank announced on Thursday that Rajeev Misra will step down as CEO of SoftBank Global Advisors, but will retain two other positions. Shares of the company rose 2.15% in Asia.
Overnight in the United States, major indexes rose.
The Dow Jones Industrial Average advanced 346.87 points, or about 1.12%, to close at 31,384.55. The S&P 500 gained 1.5% to 3,902.62, while the Nasdaq Composite gained 2.28% to 11,621.35.
European markets rose on Thursday with the resignation of British Prime Minister Boris Johnson.
Currencies and Oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 106.825, falling from above 107 earlier this week.
The Australian dollar was at $0.6853, trying to rally after falling following the Reserve Bank of Australia’s decision to raise rates on Tuesday.
The Aussie drifted higher after news that the foreign ministers of Australia and China were to meet for the first time in nearly three years, according to Carol Kong, senior associate, international economics and monetary strategy. , at the Commonwealth Bank.
“Nevertheless, the AUD will likely struggle to sustain these gains as China remains committed to its zero Covid policy and the global economy loses momentum,” she wrote in a Friday note.
Oil futures were slightly lower in Asian morning trade. U.S. crude fell 0.42% to $102.30 a barrel, while Brent crude fell 0.37% to $104.26 a barrel.