ASIA MARKETS: Asia Stocks Mixed In Wait For U.S. Jobs Data

By Daniel Inman

Australian stocks rose early Tuesday, helped by gains in miner BHP Billiton Ltd., while Japan and South Korea declined ahead of the U.S. jobs report for September.

In recent months, the labor report has been a closely watched economic indicator in global markets, examined by investors to see whether the U.S. economy is healthy enough for the Federal Reserve to roll back its stimulus program.

Expectations were high in September for the central bank to change direction, and markets were taken by surprise when it kept its bond-buying program unchanged. The recent government shutdown in the U.S. has led many to conclude that stimulus will stay steady until next year.

The dollar was unmoved against the Japanese yen (USDJPY) at Yen98.15.

Although most markets were lower early in the session, stocks clung close to the break-even mark, though Australia managed to make a modest gain. Stocks were also coming down from increases in the past few sessions brought about by the resolution of the government shutdown in the U.S., as well as a pickup in Chinese growth in the most recent quarter.

The S&P/ASX 200 added 0.3%, helped by mining giant BHP Billiton (BHP) which rose 2% after it raised its iron-ore production guidance for the 2014 fiscal year. The firm now expects to produce 212 million metric tons of iron ore, or 2.4% above the previous guidance.

Also in Sydney, retailer David Jones Ltd. (DJS.AU) ] dropped 1.8% after Chief Executive Paul Zahra said Monday that he would resign for personal reasons after the company finds a successor.

South Korea's Kospi Composite Index dropped less than 0.1% and Japan's Nikkei Stock Average was 0.3% lower.

Shares in chemicals firm Asahi Kasei Corp. rose 1.8% in Tokyo after a Nikkei newspaper report said that the company's consolidated operating profit for the first fiscal half ended in September likely surged 83% on-year to over Yen70 billion. The results would set a new record for an interim period.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires