Asian stocks were a mixed bag on Friday amid regional market holidays and a pullback in technology shares, while Japanese markets rallied to near record highs before a key ruling party vote that will decide the country’s next Prime Minister.
Oil prices rose in Asian trade on Friday after hitting over four-month lows, but remained on track for a steep weekly loss due to oversupply worries sparked by reports that OPEC+ would raise output again next month.
U.S. employers announced fewer layoffs in September but hiring plans so far this year were the lowest since 2009, a report said on Thursday, adding to evidence of a labor market standstill as the demand and supply of workers fall because of policy and technology advances.
The International Monetary Fund sees a mixed inflation picture globally as companies in the U.S. and other tariff-raising countries have so far absorbed much of the higher duties, while demand remains suppressed in major exporting countries like China, IMF spokesperson Julie Kozack said on Thursday.
British manufacturing activity shrank at the fastest pace in five months in September, reflecting subdued domestic demand and fewer export orders, according to a survey on Wednesday that painted a more downbeat picture than recent official data.
China's economy is well-positioned to maintain its positive growth trajectory, supported by its strong workforce and vibrant enterprises, said Albert Park, chief economist of the Asian Development Bank (ADB), in a recent interview with Xinhua.