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Asian markets open: Kospi +1.72%, Nikkei -0.12% on US data; Sensex flat pre-RBI policy

by June 5, 2025
by June 5, 2025

Asia-Pacific stock markets presented a mixed picture at Thursday’s open, as investors digested a surprisingly weak private sector hiring report from the United States, which fanned concerns that ongoing trade policy uncertainty could be exerting a tangible drag on the world’s largest economy.

While some regional bourses managed gains, others faltered, and Indian markets were poised for a flat start ahead of a key central bank policy decision.

The primary catalyst for the cautious mood was a report from payrolls processing firm ADP, which revealed that U.S. private sector payrolls rose by a mere 37,000 for the month.

This figure was significantly below both the downwardly revised 60,000 in April and the consensus forecast of 110,000 that economists polled by Dow Jones had anticipated.

This unexpectedly soft labor market data raised questions about the resilience of the US economy in the face of persistent trade tensions.

In response to these global cues, regional market performance varied. 

South Korean markets continued their positive momentum from the previous session, with the benchmark Kospi advancing by a robust 1.72%, while the small-cap Kosdaq rose 1.12%.

Conversely, Japan’s benchmark Nikkei 225 moved down 0.12%, and the broader Topix index lost 0.64%. Australia’s S&P/ASX 200 was trading flat.

In Greater China, Hong Kong’s Hang Seng index added 0.84%, showing some resilience, while mainland China’s CSI 300 was also flat.

Indian markets brace for RBI decision amid weekly expiry

Investors are keeping a particularly close watch on Indian markets today as the Reserve Bank of India (RBI) commences its two-day monetary policy meeting.

Market participants widely expect the central bank to announce a quarter-percentage point cut to its benchmark interest rate, bringing it down to 5.75% on Friday.

Indian benchmark indices were set for a flat open on Thursday, influenced by the weekly expiry of futures and options (F&O) contracts and the overarching cautious sentiment stemming from mixed global cues.

Nifty futures on the NSE International Exchange traded 4.10 points, or 0.02 percent, higher at 24,733.50, hinting at this subdued start for the domestic market.

While the anticipation of a rate cut and Foreign Portfolio Investor (FPI) sentiment are expected to guide the market in the near term, the RBI’s interest rate decision on Friday will be a key focal point.

US market recap and oil price movements

The cautious sentiment in Asia followed a session on Wall Street where the Dow Jones Industrial Average snapped a four-day winning streak.

Overnight in the US, the 30-stock Dow lost 91.90 points, or 0.22%, to end at 42,427.74.

However, the broader market showed some divergence, with the S&P 500 advancing a marginal 0.01% to close at 5,970.81, while the Nasdaq Composite rose 0.32% to settle at 19,460.49.

US futures were little changed in early Asian trading.

In commodity markets, oil prices slipped in early trade on Thursday.

This downturn was attributed to a build in US gasoline and diesel inventories, coupled with Saudi Arabia’s decision to cut its July prices for Asian crude buyers.

Brent crude futures fell 21 cents, or 0.3 percent, to $64.65 a barrel, while US West Texas Intermediate crude lost 29 cents, or 0.5 percent, dropping to $62.58.

The post Asian markets open: Kospi +1.72%, Nikkei -0.12% on US data; Sensex flat pre-RBI policy appeared first on Invezz

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