Asia-Pacific stocks set for higher start after overnight Wall Street jump

SINGAPORE — Shares in Asia-Pacific looked set for a positive Friday start following gains overnight on Wall Street. Investors will also be looking ahead to the release of U.S. jobs data for May.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 27,770 while its counterpart in Osaka was at 27,740 — higher than the Nikkei 225’s last close at 27,413.88.

Australian stocks also looked poised to open higher, with the SPI futures contract at 7,245, against the S&P/ASX 200’s last close at 7,175.90.

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Overnight on Wall Street, the three major indexes stateside snapped two-day losing streaks. The S&P 500 jumped 1.84% to 4,176.82. The Dow Jones Industrial Average climbed 435.05 points, or 1.33%, to 33,248.28. The tech-heavy Nasdaq Composite surged 2.69% to 12,316.90.

U.S. jobs data for May is set to be out at 8:30 p.m. HK/SIN on Friday. Economists surveyed by Dow Jones see 328,000 jobs added in May, a 100,000 decline from April.

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