TOKYO — Asian shares were trading mixed Friday as investors looked toward a United States jobs report being released later in the day.
Japan’s benchmark Nikkei 225 rose 0.6% in morning trading to 32,820.80. Australia’s S&P/ASX 200 slipped 0.4% to 7,278.30. South Korea’s Kospi was virtually unchanged, inching down less than 0.1% to 2,556.57. The Shanghai Composite added 0.4% to 3,131.93.
Trading was halted in Hong Kong because of an approaching typhoon. Schools and businesses were shut as an official warning was issued about Super Typhoon Saola.
Later Friday, the U.S. government will report employment data for August. The strong job market, along with consumer spending, has so far helped thwart a recession that analysts expected at some point in 2023. But they also made the Federal Reserve’s task of taming inflation more difficult by fueling wage and price increases.
On Wall Street, the S&P 500 gave up an early gain to close 0.2% lower, falling to 4,507.66 Thursday. The benchmark index ended August down 1.8%, though a recent four-day winning streak helped chip away at the severity of the monthly decline.
The Dow Jones Industrial Average fell 0.5% to 34,721.91, while the Nasdaq composite eked out a 0.1% gain to 14,034.97.
Market jitters over the possibility that the Federal Reserve might have to keep interest rates higher for longer — following reports showing the U.S. economy remains remarkably resilient — led to the market’s pullback in August after what had been a banner year.
This week, rep