Asian stocks were mixed on Friday following the European
Central Bank's surprise rate cut overnight and amid caution ahead of a key US
jobs report. European Central Bank (ECB) chief Mario Draghi caught markets off
guard on Thursday by cutting interest rates to a record low of 0.05 percent and
the overnight rate to negative 0.2 percent, further penalizing banks for
parking money at the central bank. The ECB also said it would launch a program
next month to buy asset-backed securities.
Attention now turns to the US August nonfarm payrolls report
due later on Friday. Analysts polled by Reuters expect a figure of around
225,000 nonfarm payrolls following July's gain of 209,000 jobs. The
unemployment rate is seen dropping to 6.1 percent from 6.2 percent.
Investors are also watching peace talks between Ukraine's
president and pro-Russian rebels on Friday. The separatists have said they are
willing to sign a truce agreement if a political solution can be found for
their region.
Hong Kong's Hang Seng fell 47.42 points or 0.19 percent to
25,250.50 while China's Shanghai Composite was up 7.07 points or 0.31 percent
at 2,313.93, at 07:55 hours IST.
Japan's Nikkei 225 Average advanced 31.43 points or 0.20
percent to 15,707.61 whereas Singapore's Straits Times declined 19 points or
0.57 percent to 3,327.34.
South Korea's Seoul Composite was down 8.21 points or 0.40
percent to 2,048.05 and Taiwan Weighted lost 31.66 points or 0.34 percent to
9,397.23.
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