Asian stocks trade mixed as investors await key US jobs data

Asian stock markets were mixed on Thursday as the year’s early rally took a pause and traders looked ahead to the release of crucial United States jobs data later in the week, which could influence global interest rate expectations. Markets also took stock of geopolitical developments and recent Wall Street performance, with major US indexes pulling back from record highs. 

Equity indices in the region showed varied results, with some benchmarks such as Tokyo and Hong Kong declining, while others including Shanghai and Sydney edged higher. South Korea’s market continued to hit record levels despite some tech sector weakness.

Investor caution reflected anticipation of US labor market figures on job openings and unemployment claims, followed by the closely watched non-farm payrolls report due Friday, which is expected to guide Federal Reserve policymakers on future interest rate moves.

Geopolitical tensions also weighed on sentiment after recent actions involving Venezuela and ongoing strains between China and Japan, adding further uncertainty to market dynamics.

In currency and commodity markets, the dollar remained steady against major peers and oil prices showed modest gains, while traders braced for potential impacts from upcoming US economic and policy developments.

Overall, the mixed performance across Asian markets highlights investor caution ahead of pivotal US economic data that could shape market direction in the near term.