Asian Stocks Mixed as Oil Prices Slip After a Record Session

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By Gina Lee  Asian stock markets were mixed on Friday morning as they gave back some of their earlier gains on the back of a jump in oil prices.

Japan’s  gained 0.32% by 10:33 PM ET (3:33 AM GMT) and neighboring South Korea’s  gained 0.48%.

Down Under, the  lost its earlier gains to drop 0.41%.

Hong Kong’s  was up by 2.24%. China’s  lost 0.14 % while the  was up 0.23%.

Meanwhile, the United States announced overnight that it received a record last week.

On the COVID-19 front, the World Health Organization said that there are 900,306 global cases of the COVID-19 pandemic as of April 2.

Investors are bracing for more economic turbulence.

The U.S. labor market “has more or less collapsed in the past two weeks,” Commonwealth Bank of Australia’s Joseph Capurso said in a note.

“It is only the beginning because more US states are applying lockdowns,” and the data indicates the nonfarm payrolls report for April due later today will likely indicate a “large jump in unemployment” he added.

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