Asian Stocks Rise Slightly Ahead of US Jobs Data & Tariff Ruling
Asian stock markets rose slightly in early trading after two days of declines earlier in the year. Investors tended to hold positions while awaiting the release of US nonfarm payrolls data and a potential US Supreme Court ruling on President Donald Trump's tariffs.
Stock indexes opened higher in Japan and Australia, while South Korea lagged. On Wall Street, the S&P 500 closed flat on Thursday, but pressure was felt in large technology stocks like Nvidia—signaling the market is becoming more selective.
Market focus is now on two major events: US payrolls data and the legal ruling on tariffs. The stock rebound after the pressure from the previous tariff issue will be tested again, as the court ruling could trigger a rapid shift in risk sentiment.
There has also been a defensive shift: funds are starting to rotate out of highly valued large technology stocks and into smaller-cap stocks. The Russell 2000 Index outperformed the Nasdaq 100 by about 4 percentage points in the first five sessions of 2026, one of the best starts ever.
Regarding employment data, consensus estimates suggest the US added around 70,000 jobs in December, slightly higher than the previous month, while the unemployment rate is projected to fall to 4.5%. The financial market is still pricing in the possibility of at least two 25 bps Fed rate cuts throughout 2026.
In other markets, the dollar held firm, oil continued its rally as investors monitored developments in Venezuela and Iran, while gold held steady, and silver continued its correction from this week's record. In Asia, investors are also monitoring regional data releases such as Chinese inflation and producer prices, Indonesian consumer confidence, and Malaysian industrial production, amid attention to the dynamics of China-Japan relations. (asd)
Source: Newsmaker.id
