A gong inside the Hong Kong Stock Exchange. China Vanke’s subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday.
Paul Yeung | Bloomberg | Getty Images
Hong Kong and Taiwan stocks led gains in Asia on Friday as Wall Street rose overnight, ahead of key U.S. employment data.
Shares of Apple suppliers were in focus after the company reported higher-than-expected earnings. Taiwan Semiconductor Manufacturing Company shares rose 1.8%, while Hon Hai Technology Group, also known as Foxconn, jumped 2.6%.
Apple, whose second-quarter earnings beat market estimates, announced a record stock buyback program of $110 billion. Shares of the iPhone maker jumped 7% in extended trading, with investors now focusing on shares of Apple suppliers in Taiwan and South Korea.
South Korea’s Kospi rose 0.39%, while the smaller-cap Kosdaq added 0.28%.
The Taiwan Weighted Index rose 1.41%, while Hong Kong’s Hang Seng index added 2%.
Stock markets in Japan and mainland China were shut for public holidays.
The Japanese yen was still in focus as it strengthened to 152.75 against the U.S. dollar amid suspected government intervention to support the currency on Monday.
Economists polled by Dow Jones expect to see 240,000 job gains in the U.S. April nonfarm payrolls report due Friday at 0830a.m. ET, compared with 303,000 additions in March.
Investors will be closely watching the data after the U.S. Federal Reserve held interest rates steady at the end of its two-day meeting on Wednesday.
Stocks in the U.S. closed higher on Thursday as investors looked ahead to more earnings as well as the nonfarm payrolls report set to be released on Friday.
The Dow Jones Industrial Average added 322.37 points, or 0.85%, while the S&P 500 gained 0.91%. The Nasdaq Composite jumped 1.51%.
— CNBC’s Samantha Subin and Alex Harring contributed to this report.