Japanese stocks advanced as trading on the Tokyo Stock Exchange resumed after Thursday’s outage, while holiday closures in other major Asian markets may make for a subdued equity trading session. The dollar ticked up ahead of the monthly US payrolls data.

Shares in Tokyo opened higher, while those in Australia dipped. S&P 500 contracts edged down after the House of Representatives passed a $2.2 trillion fiscal stimulus package that Republicans reject. Concerted talks between the two sides have so far failed to yield a bipartisan agreement on fresh steps to alleviate the impact of the pandemic.

The Japan index Nikkei 225 edged up 31.47 points, or 0.14%, to 23,217.77 in the opening trades today.

Low trading activity and reduced liquidity could exacerbate moves in Friday trading with China, Hong Kong, Taiwan, India and South Korea shut for holidays. Oil fell on concerns of oversupply. Treasury yields slipped.

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Global equities have struggled since reaching a peak in September, leaving investors looking for the next market catalysts. All eyes turn later Friday to the American September employment report, the last before the November election. Thousands of job cuts this week showed how firms are still wrestling with readjustments needed to survive in the pandemic era.

The risks to the rally are real, Joanne Feeney, partner at Advisors Capital Management LLC, said on Bloomberg TV. Whats very unusual is that there is a lot more near-term risk at the moment than longer term.

Meantime, in Hong Kong, police in riot gear flooded the streets Thursday to quash protest activity on the National Day holiday.

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