Asia-Pacific markets fell as stronger-than-expected US jobs data stoked fears of a rally.

Japan -1.17%. JAPAN

NEWS: Inflation-adjusted wages fell 1.2% in May from a year earlier. Household spending in May fell by 4 percent year-on-year.

China -0.16%.

Hong Kong -0.77%.

Australia -1.69%.

India -0.48%.

All three major U.S. stock indexes fell sharply on Thursday amid mixed economic data on interest rates and the labor market. The tech-heavy Nasdaq was down 0.82% at 13,679.04, while the S&P 500 was down 0.79% at 4,411.66. The blue-chip Dow closed down 1.07 percent at 33,922.72.

U.S. private-sector payrolls show the labor market remains strong, despite rising risks of a recession due to rising interest rates. Market participants were also closely watching US Treasury Secretary Janet Yellen’s visit to Beijing as tensions rose again.

Investors now turn their attention to later-in-the-day US non-farm payrolls data.

Oil prices were little changed on Friday as gains outweighed signs of tighter supply. Brent crude futures were down 1 cent at $76.51 a barrel by 0006 GMT, while U.S. West Texas Intermediate crude was up 2 cents at $71.82 a barrel.

Gold will fall for a fourth straight week on Friday. Spot gold was at $1,910.20 an ounce by 0240 GMT, but was down 0.5% for the week. US gold futures were slightly changed at $1,916.00. Elsewhere, spot silver was down 0.4% at $22.6567 an ounce, and platinum was down 0.3% at $898.83. Palladium fell 0.3% to $1,238.36, but was up 1% for the week.

US stock futures continue to gain momentum on Friday: Dow -0.03%; S&P 500 -0.11%; Nasdaq -0.13%.

Leave a Reply

Your email address will not be published. Required fields are marked *