Arab Today, arab today asian stocks fall on disappointing us jobs data
Last Updated : GMT 00:59:28
Arab Today, arab today
Arab Today, arab today

Asian stocks fall on disappointing US jobs data

Arab Today, arab today

Arab Today, arab today Asian stocks fall on disappointing US jobs data

Hong Kong - AFP

Asian markets fell on Monday after declines in the US and Europe on disappointing American jobs data that raised fresh concerns about the world\'s biggest economy. In China, data showing the rate of inflation slowed in June opened the door to new government action to boost growth, but the news failed to lift markets which instead turned their focus to more key figures to be released later this week. Tokyo\'s Nikkei index closed down 1.37 percent, or 123.87 points, at 8,896.88, also weighed down by weak figures from its domestic economy Bank stocks were under pressure with Mizuho Financial down 1.50 percent at 131 yen, while firms that ship to hard-hit Europe were also weaker with automaker Mazda falling 3.84 percent to 100 yen and chipmaker Renesas Electronics off 4.25 percent to 315 yen. In Hong Kong, the Hang Seng Index gave up 372.55 points to end at 19,428.09 on turnover of HK$42.21 billion ($5.43 billion). Chinese shares closed down 2.37 percent. The benchmark Shanghai Composite Index, which covers A and B shares, slumped 52.77 points to 2,170.81 on turnover of 69.3 billion yuan ($10.9 billion). Seoul slipped 1.19 percent, or 22.07 points, to close at 1,836.13, and Sydney closed 0.95 percent, or 39.5 points, lower at 4,118.3 The drop in Sydney stocks \"has predominantly been about our market following the leads of the US market and its disappointment in yet another sub-par jobs report\", said Cameron Peacock, an analyst at IG Markets. The US economy added only 80,000 jobs, well below expectations, leaving the unemployment rate at 8.2 percent, according to figures from the Labor Department released on Friday after Asian markets closed. It was the latest disappointing economic report from the US and came shortly after International Monetary Fund chief Christine Lagarde warned that the fund would be cutting its global growth forecasts later this month. US markets closed lower Friday after the jobs report, with the Dow Jones Industrial Average down 0.96 percent, The S&P 500 losing 0.94 percent and the tech-rich Nasdaq dropping 1.30 percent. In Europe, London was down 0.53 percent, Frankfurt shed 1.92 percent and Paris lost 1.88 percent. In China, the National Bureau of Statistics said the consumer price index rose by 2.2 percent year-on-year last month, the lowest rate since the start of 2010. The fall in inflationary pressures in China in recent months, alongside a general slowing in the economy, has given the government more scope to try to stimulate growth. The central bank last week cut interest rates for the second time in a month. But Shanghai stocks dropped after the inflation figure was released, with investors focusing on GDP and other economic data due out Friday. \"Now that inflation has moderated, investors have turned their focus to whether last week\'s rate cut was in anticipation of weaker data due later this week,\" Zhou Xu, an analyst from Nanjing Securities, told Dow Jones Newswires. In Japan, official data showed the surplus in the country\'s current account, the broadest measure of trade with the rest of the world, plunged 62.6 percent to 215.1 billion yen ($2.7 billion) in May from a year earlier. That was well below the 511 billion yen surplus expected by economists, according to Dow Jones Newswires, with separate data pointing to weakness in new investment by corporate Japan. Investors were also looking to a meeting in Brussels later in the day of eurozone finance ministers, who are under pressure to flesh out a plan agreed last month to helping the ailing currency bloc. On Asian currency markets, the euro remained under pressure after dropping to its lowest level for two years on the US data. The euro was changing hands at $1.2288 in Tokyo trade against $1.2287 in New York late Friday, its lowest since July 2010. The euro bought 97.95 yen from 97.83 yen in US trade on Friday, while the dollar fetched 79.68 yen in Tokyo, little changed from 79.62 yen in New York On oil markets, New York\'s main contract, West Texas Intermediate (WTI) light sweet crude for delivery in August, gained 38 cents to $84.83 a barrel and Brent North Sea crude for August delivery rose 55 cents to $98.74. Gold was worth $1582.26 an ounce at 0700 GMT, compared with $1,594.70 late Friday. In other markets: -- Taipei fell 0.80 percent, or 58.63 points, to 7,309.96. Smartphone maker HTC shed 5.59 percent to Tw$304.0 while Chunghwa Telecom was 0.21 percent higher at Tw$95.4. -- Wellington edged up 0.04 percent, or 1.49 points, to 3,480.19. Telecom Corp. added 1.4 percent to NZ$2.49 and Fletcher Building was down 1.12 percent at NZ$6.20.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian stocks fall on disappointing us jobs data Arab Today, arab today asian stocks fall on disappointing us jobs data

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 15:57 2017 Sunday ,26 February

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

GMT 15:41 2017 Sunday ,26 February

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

GMT 14:44 2017 Sunday ,26 February

Muscat shares fall on local selling

GMT 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday