Asian stocks lack momentum as traders await US jobs report amid holidays at China, Japan

• US April month employment data awaited amid holidays at China and Japan.
• Following recent posts, upbeat outcome gains more fame than otherwise.

Friday turns out to be a less active day for the Asian markets as caution ahead of the key US employment numbers join holidays at Japan and China.

MSCI’s index of Asia-Pacific shares ex-Japan is in the positive region with nearly +0.20% gains whereas South Korea’s KOSPI is under -0.70% loss.

Stocks in Australia are also nearly 0.20% positive due to mixed domestic data whereas New Zealand’s NZX50 losses -0.30% despite a likely decline in milk production.

The US 10-year Treasury yield, known as global risk barometer, is losing nearly one basis point by the press time as it prints 2.545% mark.

Wall Street also struggles for traction as DJIA lost nearly half a percent while S&P500 and Nasdaq slipped around 0.20%.

With the latest quarterly figure of the US nonfarm productivity and ADP employment change flashing welcome signals, average hourly earnings might please investors with +3.3% YoY gains compared to 3.2% prior whereas nonfarm payrolls (NFP) could retrace to 185K from 196K earlier. Also, the unemployment rate could remain unchanged at 3.8%.

Ahead of the US April month jobs report, the UK Markit services PMI and Eurozone preliminary CPI could entertain global investors.