The China Mail - Most Asian markets rise ahead of key US jobs data

The week appeared to be headed for a positive end after starting with another bout of volatility after the US president imposed tariffs on leading partners China, Canada and Mexico.

He delayed imposing the measures on his immediate neighbours for a month, but those directed at Beijing remain in place, sparking retaliatory levies and fuelling fears of another economically painful trade war between the superpowers.

And while observers said China's response was measured -- likely owing to leaders wanting to keep their powder dry -- they warned that the stand-off could heat up, and other countries could also be in Trump's sights.

"It's hard to predict where this kerfuffle will end up: a sudden deal to remove these tariffs again can't be ruled out," HSBC's chief Asia economist Frederic Neumann said in a note.

"More likely, however, is that even higher US tariffs will be imposed on China eventually. And other economies in the region may also receive scrutiny over time, as many run sizeable trade surpluses with the United States.

"Even if the immediate hit to regional trade from the latest trade fuss should prove manageable, the increased uncertainty is bound to put a dent on cross-border direct investment."

Still, for now investors were enjoying the relative calm as analysts say the White House's moves have so far been less strident than initially feared.

Focus is now on the US non-farm payrolls report later in the day, with a below-forecast reading seen as boosting hopes for an interest rate cut.

In morning trade, Hong Kong, Shanghai, Sydney, Singapore, Wellington and Taipei all rose, though Seoul and Manila dropped, with Tokyo weighed by a stronger yen.

The Japanese currency has picked up this week and at one point hit 150.96 to the dollar, a level not seen since early December, helped by top central bank policy board member Naoki Tamura saying he wanted borrowing costs to rise to one percent by year end.

They currently sit at 0.5 percent.

The gains in Asia followed a broadly positive lead from Wall Street, though worries about the tech sector remain after last month's release of a new chatbot by Chinese startup DeepSeek that has upended the battle for AI supremacy.

A disappointing earnings release from Amazon -- a day after a similar result from Google-Parent Alphabet -- added to the jitters.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.4 percent to 38,893.65 (break)

Hong Kong - Hang Seng Index: UP 0.7 percent to 21,038.61

Shanghai - Composite: UP 0.7 percent to 3,294.15

Euro/dollar: DOWN at $1.0381 from $1.0387 on Thursday

Pound/dollar: DOWN at $1.2431 from $1.2436

Dollar/yen: UP at 151.60 yen from 151.47 yen

Euro/pound: UP at 83.52 pence from 83.50 pence

West Texas Intermediate: FLAT at $70.59 per barrel

Brent North Sea Crude: FLAT at $74.31 per barrel

New York - Dow: DOWN 0.3 percent at 44,747.63 (close)

London - FTSE 100: UP 1.2 percent at 8,727.28 (close)

H.Ng--ThChM