- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
- 'Unspeakable horror': the attacks on Hiroshima and Nagasaki
- Stock markets diverge before China weekend briefing
- Christian villagers 'trapped' in south Lebanon crossfire
- Sabalenka sets up Gauff showdown in Wuhan semis
- EU questions shopping app Temu over illegal products risk
- Kim Sei-young holds lead with late birdies at LPGA Shanghai
- Toulouse welcome Dupont 'boost' as Olympic star returns to Top 14
- Japanese atomic bomb survivor group Nihon Hidankyo wins Nobel Peace Prize
- Deadly Israeli strike on Beirut likely targeted Hezbollah security chief
- Bangladesh Islamist chief backs crimes against humanity trial for ex-PM
- Everest climber's remains believed found after 100 years
- 20 Pakistan coal miners shot dead in attack
- Clashes on South China Sea, Ukraine dominate Asia summit
- Han Kang's books sell out in South Korea after Nobel win
- Zelensky meets Pope, Scholz as whirlwind Europe tour ends
- Hello Hallyu: why is South Korean culture sweeping the globe?
- UK economy rebounds in August in boost to new govt
- Voice of Japan's beloved robot cat 'Doraemon' dies
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- 20 Pakistan coal miners shot dead in attack: police
- Blinken condemns China's 'increasingly dangerous' sea moves
- Toyota returns to Formula One as Haas partner
- EU chief says China must 'adapt its behaviour' to solve trade row
- Musk unveils robotaxi, pledges it 'before 2027'
- Lynx rally, stun Liberty in overtime in WNBA Finals opener
- Pogacar hunting 'perfect' season finale with Coppi's Il Lombardia record
- 'Soul of old Baghdad': city centre sees timid revival
- Kittle at the double as Niners hold off Seahawks
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Yankees advance in MLB playoffs as Guardians stay alive
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- Kamada says Japan can close in on World Cup place against Australia
- On US coast, wind power foes embrace 'Save the Whales' argument
RBGPF | -1.03% | 59.49 | $ | |
RYCEF | 0.58% | 6.92 | $ | |
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NGG | 0.88% | 66.265 | $ | |
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GSK | -1.03% | 38.811 | $ | |
AZN | 0.25% | 77.06 | $ | |
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CMSD | -0.28% | 24.7 | $ | |
RELX | 1.51% | 47.07 | $ | |
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BP | -0.48% | 32.185 | $ |
Most Asian markets fall after strong US data, eyes on inflation
Asian markets mostly fell Monday after a forecast-busting jobs report dampened US interest rate cut hopes, with attention now turning to the release of key inflation data this week.
The selling followed a retreat in all three main indexes on Wall Street, while investors lowered their expectations for how many cuts the Federal Reserve would make this year.
However, analysts said that while the jobs figures were bigger than hoped, they would not likely cause policymakers to hold off lowering borrowing costs as unemployment ticked up to a two-year high.
The reading "didn't necessarily amount to an 'all-clear' signal for the Fed, but there also didn't appear to be anything in it that would derail its plan to cut rates", said Chris Larkin of E*Trade from Morgan Stanley.
And SPI Asset Management's Stephen Innes added that "the US labour market seems to be in a comfortable zone -- not too hot and not too cold".
"Reminiscent of Goldilocks's 'just right' porridge."
Traders are now factoring in three rate cuts this year, compared with six that were pencilled in three months ago.
The latest reading on the consumer price index on Tuesday is now in traders' view.
In early trade, Tokyo, Sydney, Seoul, Singapore, Wellington, Taipei and Manila were all in negative territory.
Japanese equities were weighed by a tech sell-off after losses for the sector in New York, while exporters also took a hit from a stronger yen as reports said the country's central bank was considering shifting away from its ultra-loose monetary policy soon.
There was little reaction to news that the economy had narrowly avoided a recession in the first final months of last year.
Hong Kong extended Friday's gains and Shanghai fluctuated following figures showing a bigger-than-forecast jump in Chinese consumer prices last month.
The data provided some much-needed good news for the struggling economy, though observers warned it continued to face headwinds.
"Recovery in domestic demand will only be gradual, as households worry about their income and job prospects amid heightened economic uncertainty while consumer confidence remains low," said Kelvin Lam at Pantheon Macroeconomics.
"Therefore, it is too early to say China has emerged from consumer deflation from just one data point."
Bitcoin fell slightly, having hit a fresh record high above $70,000 for the first time on Friday as demand picks up and traders grow optimistic about the prospect of interest rates coming down this year.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: DOWN 2.5 percent at 38,704.10 (break)
Hong Kong - Hang Seng Index: UP 0.9 percent at 16,494.99
Shanghai - Composite: DOWN 0.1 percent at 3,042.76
Dollar/yen: DOWN at 146.93 yen from 147.06 yen on Friday
Euro/dollar: DOWN at $1.0940 from $1.0942
Pound/dollar: DOWN at $1.2852 from $1.2854
Euro/pound: UP at 85.12 pence from 85.09 pence
West Texas Intermediate: DOWN 0.9 percent at $77.35 per barrel
Brent North Sea Crude: DOWN 0.8 percent at $81.44 per barrel
New York - Dow: DOWN 0.2 percent at 38,722.69 (close)
London - FTSE 100: DOWN 0.4 percent at 7,659.74 (close)
D.Cunningha--AMWN