Asia: Stocks higher ahead of US non-farm payrolls data

Asian stocks ended the week higher ahead of the release of the latest US non-farm payrolls report.

In the event, they increased by 248,000 in September, according to the US Department of Labor. The consensus estimate had been for a gain of 215,000. Also quite significantly, the estimates for the previous two months were revised higher by a net 69,000.

The Federal Reserve is keeping a close eye on the labour market as it considers the timing of its first interest rate hike.

Japan’s Nikkei 225 rose 0.37% while the Hong Kong Hang Seng index gained 0.57%. Markets in Shanghai have been closed since 28 September to mark the Golden Week holiday. China’s two main stock markets are expected to open higher Monday after a week-long holiday.

Meanwhile, protestors opposed to the pro-democracy movement in Hong Kong strengthened barricades around the government’s main office building. The city’s top official, Leung Chun-ying, has agreed to talks with protestors.

Elsewhere in China, the non-manufacturing purchasing managers’ index eased back to 54 in September from 54.4 a month earlier.

In corporate news, China Resources Land gained and China Vanke Co. soared as mainland developers led gains in Hong Kong.

Taiwan Semiconductor Manufacturing Co. advanced to lead the nation’s Taiex Index to the largest one-day gain in a year.