The Asian stock market started the first day of the trading week in red, first time in three days as the Japanese shares led the decline on a stronger yen after the U.S. jobs data showed below-forecast data on Friday. The Chinese shares and European index futures advanced, while in Australia and Japan, bonds rallied with gold.
The disappointing figures from the below-forecast workforce data showed that the US economy is still at a slow recovery growth, which is not strong enough for the Federal Reserve to start scaling back on the monetary stimulus programme.
The Japanese benchmark Nikkei 225 declined 1.44% to 14,258.04, while the Topix index dropped 0.89% to 1,185.53. Hong Kong’s Hang Seng slightly advanced 0.20% to 22,234.98, while the Chinese mainland Shanghai Composite rose 0.80% to 2,045.71.
The South Korean Kospi index fell 0.37% to 1,916.22, while the Australian S&P/ASX 200 decreased by 0.15% to 5,109.30.
The US released the disappointing non-farm payrolls data on Friday, as the figures were below expectations and indicated the US economy added around 162,000 jobs in the month of July, below the forecasted 185,000.
The report showed that the unemployment rate fell by 0.2% to 7.4%.
The figures from the report failed to push the Asian stocks, while the US stocks, such as the Dow and S&P 500 were at a high record, while bonds rallied and the US dollar declined.
The stock market in China opened in green on Monday, as the Chinese service sector was seen in the expansion territory in the month of July. Reports from HSBC Holdings Plc and Markit Economics measured business activities in services resulted to 51.3 in July.
The Chinese government survey showed accelerated expansion from 53.0 from June to 54.1.
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