Holiday mood in Asian markets

Most indices in Asia Pacific remained closed for a holiday, while Japan’s Nikkei traded 0.06 percent and the Topix gained 0.22 percent. In Asia, stocks traded higher in a quiet session on Friday as most markets in the region were closed for a holiday. Japan’s Nikkei 225 erased earlier gains and was last trading 0.06 percent and the Topix gained 0.22 percent. South Korea’s Kospi rose 1.12 percent and the Kosdaq rose 1 percent. In mainland China, the Shanghai Composite Index rose 0.3 percent and the Shenzhen Component Index rose 0.8 percent. Australia, Hong Kong, Singapore and India were closed. Investors will be eagerly awaiting Friday’s U.S. nonfarm payrolls report, which will help chart the path ahead for the Fed. This follows this week’s ADP report that showed U.S. private payrolls grew less than expected in March. A Labor Department report this week also showed the number of available positions fell below 10 million in February for the first time in nearly two years. Layoffs have also increased nearly fivefold so far this year from a year ago. On Wall Street, stocks closed higher Thursday, with the Nasdaq Composite up 0.76 percent on technology, led by Google-parent Alphabet and Microsoft. The S&P 500 rose 0.36 percent after paring earlier losses and fell for its first time in a fourth week, while the Dow Jones Industrial Average rose.