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Market Update

Asian Markets Trade Flat

Asian markets were flat Friday with investors focused on the U.S. ahead of the closely-watched payroll and unemployment rate report.

The Nikkei was up 0.4%. The Shanghai Composite declined 0.5% while the Hang Seng traded flat. The Sensex edged up 0.2% while the All Ordinaries slipped 0.2%.

Overnight, Wall Street stocks ended lower after better-than-expected economic data yesterday raised fears the Fed would start winding down its stimulus.

Stocks on the Move

Advantest gained 6.4% in Tokyo after a favorable brokerage report.

Nissan was up almost 2% while Mazda Motor rose 1.3%.

Standard Chartered PLC extended losses, down a further 2.6% after falling 4.7% Thursday. The lender said its operating profit would decline for the first time in a decade.

China Mobile edged up 0.2% after a Reuters report the company is still working on a deal to sell Apple’s iPhones.

Shares were steady in Mumbai after Thursday’s sharp gains on the back of an impending electoral victory for the opposing party in New Delhi after a three-term Congress led reign characterized by corruption, and poor and inefficient administration.

Shares of Qantas were in a trading halt after the stock plummeted the previous session. QBE Insurance also halted trading of its shares with the Australian Review Commission saying the company may lower its profit estimates.

Nine Entertainment Co. Holdings was down 2% on its trading debut.