Asian shares stabilize, Nikkei up 0.5%

Early trade on Friday saw Asian shares as steady.

A report by Reuters stated that investors looked to the U.S. economy to see if it was resilient enough to shake off the fallout from the Brexit vote.

MSCI’s broadest index of Asia-Pacific shares outside Japan were down 0.1 % while Japan`s Nikkei was up 0.5 %.

U.S. private payrolls increased more than expected in June as small businesses ramped up hiring, and fewer Americans applied for unemployment benefits last week, the Reuters report stated.

Brent crude futures hit a two-month low and was trading at $46.90 per barrel on Friday.

Chinese stocks opened lower on Friday, with the benchmark Shanghai Composite Index down 0.55 % to open at 3,000.33 points.

SGX Nifty opened lower at 8338.00 points.

(With inputs from IANS)