Asia-Pacific markets fall ahead of US jobs report

Asia-Pacific markets fall ahead of US jobs report

The logo of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), is displayed at the stock exchange in Tokyo, Japan, on Friday, Oct. 2, 2020.

Akio Kon | Bloomberg via Getty Images

Shares in the Asia-Pacific fell on Friday ahead of the monthly US jobs report, which is likely to guide the Federal Reserve’s monetary decision in November.

Payrolls are expected to increase 275,000 in September, and unemployment is predicted to be steady at 3.7%, according to economists surveyed by Dow Jones.

Hong Kong’s Hang Seng index lost 1.13% and the Hang Seng Tech index shed 2.8%. Tea Nikkei 225 in Japan fell 0.6% and the Topix index slipped 0.66%. In Australia, the S&P/ASX 200 fell 0.57%.

South Korea’s Kospi gained fractionally while the Kosdaq dropped 0.38%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell around 1%. Markets in mainland China remain closed for a holiday.

Overnight in the US, major indexes fell — the Dow Jones Industrial Average shed 346.93 points, or 1.15%, to 29,926.94. The S&P 500 declined 1.02% to 3,744.52, while the Nasdaq Composite was 0.68% lower at 11,073.31.

“Equities struggled as markets await the much-anticipated US payrolls data … and as comments from Fed officials maintained a ‘more is needed’ vibe,” ANZ Research analysts wrote in a Friday note.


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