Investing.com - Asian markets were trading higher on Friday, despite losses on Wall Street ahead of crucial US employment data. Market analysts posit that strong indicators of a healthy US economy, such as the robust labor market data released this week, could spell trouble for equities. This is due to the belief that such signs could motivate the Federal Reserve to maintain its stringent monetary policy through the end of the year and beyond.
10-year US Treasury yields reached their highest point since 2007 this week, sparking concerns among investors that elevated borrowing costs for businesses and consumers could eventually weigh on the economy.
Investor attention is now focused on the upcoming US monthly employment data set for release on Friday. This data will provide valuable insights into whether the recent indications of a softening labor market will persist.
Despite these concerns, Asian markets started Friday positively. Hong Kong opened the day with an early gain of just over 1.5%, while Tokyo also showed a slight increase. Other markets including Singapore, Seoul, and Mumbai also recorded gains. Meanwhile, mainland Chinese markets remain closed for a week-long holiday.