Asian Shares Tiptoe Higher Despite Oil Price Decline — Market Talk

0037 GMT [Dow Jones] Shares in Asia are slightly higher Friday even though crude oil prices declined overnight. Japan’s Nikkei Stock Average is up 0.8%, Korea’s Kospi is 0.3% higher, and Australia’s S&P/ASX 200 is down 0.1%. The price of Brent crude plunged overnight but was recently slightly higher in early Asian trade at $46.91 per barrel. Shares were rising despite a collapse in the price of oil, but investors will likely stay on the sidelines before a key U.S. jobs report due after Asian markets close. “Currently, Asian equity markets look set to follow the oil price lower,” says IG, an Australian brokerage, in a note. “Markets are also likely to be nervous today ahead of the U.S. non-farm payrolls this evening.” Analysts expect 180,000 new jobs to be added in June. (dominique.fong[a]wsj.com; Twitter: [a]dominiquefong)

 
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