NTDTV
Market Report – U.S. Jobs Spook Asia
(NTDTV)
In today’s market report… Asian financial markets steadied near three-week lows, after weaker-than-expected U.S. jobs data spooked investors about the pace of global economic recovery.
The U.S. employment figures raised doubts about how strong consumer demand is in the world’s biggest economy.
Japan’s own jobless rate is declining, but over the weekend the nation’s finance minister said that it would be premature for the his government to stop economic recovery programs.
The Nikkei touched a 10-week low, as Japanese exporters such as Honda remained weak.
But rail and train makers gained on hopes that Rio de Janeiro’s winning the 2016 Olympic Games would result in infrastructure demand from Brazil, possibly for bullet trains.
Elsewhere, steady gold and copper prices boosted resource-linked firms around the region like Australian miner BHP Billiton.
The nation’s currency rose on expectations the Australian central bank may raise interest rates at a meeting this week.
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