Space Industry and Business News
TRADE WARS
Asian stocks rally ahead of US jobs, Supreme Court ruling

Asian stocks rally ahead of US jobs, Supreme Court ruling

by AFP Staff Writers
Hong Kong (AFP) Jan 9, 2026

Asian markets rose Friday after a two-day stutter as traders look ahead to the release of crucial US jobs data and a possible Supreme Court ruling on Donald Trump's sweeping global tariffs.

A report showing Chinese consumer prices rose at their fastest pace in almost three years also provided a boost to Shanghai and Hong Kong stocks.

Equities have largely enjoyed a solid start to the new year, with Seoul hitting several record highs this week, thanks to optimism over the tech sector and earnings.

But focus is now on the outlook for US interest rates, with closely watched non-farm payrolls figures due out later in the day. Traders will be poring over the figures as they could play a key role in the Federal Reserve's decision-making leading up to its next policy meeting at the end of the month.

The central bank indicated last month that its next move could be a pause -- after three successive cuts -- though analysts said that a big downside miss could revive talk of another reduction. A much bigger gain than expected could also deal a blow to such hopes.

Still, Matt Weller at City Index said: "Traders have relatively high confidence that the Federal Reserve will pause its rate cutting cycle this month, and only a dramatic deterioration in the labour market (such as an outright decline in jobs or unemployment rising to 4.7 percent) could shake that confidence.

"As a result, the market reaction to the release could be relatively limited."

Wall Street ended Thursday on a mixed note, with observers pointing out signs traders were shifting their positions from tech -- which led last year's rally to multiple records -- and into smaller cap firms.

But Asia enjoyed a more positive run.

Tokyo, Sydney, Singapore, Seoul, Taipei and Manila all rose, though there were small losses in Wellington and Jakarta.

Hong Kong and Shanghai were also helped by figures showing Chinese inflation rose more than expected last month and extended a period of growth following months of deflationary pressure.

The 0.8 percent increase in consumer prices marks the fastest pace since February 2023, though analysts pointed out that the increase was mainly down to food costs, masking broader weaknesses.

The Supreme Court's possible ruling on the legality of many of Trump's punishing tariffs is also keeping investors occupied.

The landmark case on the US president's unprecedented use of powers for sweeping global levies -- which sent shockwaves though markets last year -- strikes at the heart of his economic agenda.

The judges are to decide whether the White House could introduce the measures under economic emergency powers and, if it cannot, whether companies should be reimbursed duties paid.

A ruling against the government could have a huge on impact its economic and fiscal plans.

Oil prices extended gains, having rallied more than three percent Thursday, after Trump threatened to hit Iran "very hard" if it killed protesters amid mounting civil unrest over an economic crisis.

The gains reversed losses earlier in the week that came after the president said Venezuela would ship millions of barrels to the United States following the toppling of the South American country's leader at the weekend.

- Key figures at around 0325 GMT -

Tokyo - Nikkei 225: UP 1.1 percent at 51,692.70 (break)

Hong Kong - Hang Seng Index: UP 0.1 percent at 26,179.70

Shanghai - Composite: UP 0.7 percent at 4,113.38

Euro/dollar: DOWN at $1.1652 from $1.1661 on Thursday

Pound/dollar: DOWN at $1.3432 from $1.3437

Dollar/yen: UP at 157.16 yen from 156.95 yen

Euro/pound: UP at 86.75 pence from 86.70 pence

West Texas Intermediate: UP 0.7 percent at $58.14 per barrel

Brent North Sea Crude: UP 0.7 percent at $62.43 per barrel

New York - Dow: UP 0.6 percent at 49,266.11 (close)

London - FTSE 100: FLAT at 10,044.69 (close)

cms-dan

INDEX CORP.

Dow

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
Hong Kong reclaims top global IPO spot in 2025, PwC says
Hong Kong (AFP) Jan 5, 2026
Hong Kong reclaimed its position as the world's top spot for initial public offerings in 2025 after it raised more than HK$285 billion (US$36.6 billion), a 225 percent increase on-year, accounting giant PwC said Monday. The Chinese finance hub saw 119 new listings last year, with big-ticket sales including Chinese battery giant CATL and miner Zijin Gold putting it ahead of the New York Stock Exchange, Nasdaq and the National Stock Exchange of India. "Despite uncertainties in the global geopoliti ... read more

TRADE WARS
From music to mind reading: AI startups bet on earbuds

New tool narrows the search for ideal material structures

Nostalgia and new fans as Tamagotchi turns 30

Chlorine and hydrogen from waste brines without external power

TRADE WARS
Europe backs secure satellite communications with multibillion euro package

SpainSat NG programme completed as second secure communications satellite launches

New Laboratory Showcases Advanced Satcom Capabilities for Australian Defence Force

European Response to Escalating Space Security Crisis

TRADE WARS
TRADE WARS
When 5G networks bolster satellite navigation

LEO internet satellites bolster navigation where GPS is weak

Ancient 'animal GPS system' identified in magnetic fossils

Centimeter-level RTK positioning now available for IoT deployments

TRADE WARS
Fewer layovers, better-connected airports, more firm growth

Berlin says decision postponed on European fighter jet

Germany asked to help in Libyan army chief plane crash probe

Chinese leasing firm CALC orders 30 Airbus A320neo planes

TRADE WARS
Light driven neuron chip unifies sensing computing and memory

China launches anti-dumping probe into Japan chipmaking chemical

Nvidia unveils new AI chip platform amid rising competition

Tiny tech, big AI power: what are 2-nanometre chips?

TRADE WARS
New NASA Sensor Goes Hunting for Critical Minerals

Sentinel 6B begins sea level mapping campaign

Maintaining the Gold Standard: The Future of Landsat Calibration and Validation

China lofts Tianhui 7 geological survey satellite on Long March 4B

TRADE WARS
Corn cob biochar filters pull ammonia and micro and nanoplastics from water

Sunlight driven microplastic leaching reshapes dissolved pollution in water

French ban on 'forever chemicals' in cosmetics, clothing enters force; delays plastic cup ban 4 years

France pushes back plastic cup ban by four years

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.