Asian stocks mixed ahead of US jobs report

Asian stocks mixed as Hong Kong’s Hang Seng index rose around 5% Hong Kong stocks rose 5% in the Asia-Pacific composite session on Friday as markets continued to assess the U.S. Federal Reserve’s 75 basis point rate hike. Hong Kong’s Hang Seng index rose 5%, while the Hang Seng Tech index rose 6.79%. “[The] rise is supported by the return of electric vehicles on internet platforms, which have seen a significant sell-off in previous weeks,” said Gary Ng, senior economist at Natixis. In mainland China, the Shenzhen Component rose 2.04%, while the Shanghai Composite Index rose 1.90%. Japan’s Nikkei 225′ fell 2% after the holiday on Thursday. The Topix fell 1.44%. South Korea’s Kospi was flat. The Kosdaq lost 0.89%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.72%. In Australia, the S&P/ASX 200 rose 0.34 percent. The Reserve Bank of Australia releases its monetary policy report on Friday.