Asian markets mixed; NFP in focus

Markets in Asia were mostly mixed on Friday, following President Donald Trump remarks indicating that further tariffs imposure could be prepared against China.

Overnight, Trump said he ordered US trade officials to contemplate $100 billion in extra tariffs against the Asian counterpart in this matter.

In other news, US Trade Representative Robert Lighthizer said those tariffs will not be applied until an official statement is conducted.

In Japan, the Nikkei 225 dropped 0.30 percent. South Korea’s Kospi was down 0.33 percent, failing to get support from the tech sector.

In Sydney, the S&P/ASX 200 benchmark was boosted by materials and energy subindexes to end unchanged at 5,788.

Hong Kong's Hang Seng Index was up 1.17 percent, while mainland indexes such as the Shanghai composite posted a 0.18 percent loss.

On Thursday, White House National Economic Council Director Larry Kudlow said Washington was hoping to reach an agreement with the Beijing.

“Our intention is not to punish anybody. Our intention is to open markets and investments and lower barriers — that’s the deal,” Kudlow said.

This remarks helped to reduce worries among market participants that the world biggest economies will kick off a trade war in the near term.

Earlier this week, China issued a list of 106 US products for which an increase of 25 percent in tariffs could be applied if the Trump administration moves forward with its own agenda.

In Europe, investors will be focusing on Germany’s industrial production for February, which comes as early as 06:00 GMT. No further data is expected in the bloc.

Ahead in the US session, the trade dispute will remain in focus. Attention will also be turning to a set of fresh economic data, including the latest employment figures in the US.

The Labor Department will present its employment report for March, which includes average hourly earnings, nonfarm payrolls, participation rate and the unemployment rate. Currently, economists estimate the following results: 0.2%; 203,000; 195,000 and 4.0% respectively.

Market labor conditions are seen as a key factor to justify further monetary policy chances, especially interest rate hikes. The Federal Reserve expects two more rate moves this year.

FortFS