الأربعاء , يونيو 17 2020

Asian shares lower on US jobs data

nikkei

Weaker-than-expected US jobs data saw the dollar fall to 118.81 yen on Monday, from 119.62 yen in Tokyo on Friday

Share markets in Asia reacted on Monday to disappointing US jobs data released on Friday, with Japan’s benchmark index opening lower.

America’s latest employment numbers showed 126,000 new jobs were created in March, the fewest since December 2013, and about half the number expected.

The Nikkei 225 opened down 0.72% at 19,295.03 points.

The weaker-than-expected data saw the dollar fall to 118.81 yen on Monday, from 119.62 yen in Tokyo on Friday.

A stronger yen against the dollar is not good news for Japan’s big exporters as it makes their products more expensive in overseas markets.

Shares in Sharp however were up in Japan after reports the firm was set to sell off its LCD panel business. Sharp has since reportedly told the Tokyo Stock Exchange that it was not the source of the reports.

The firm has promised it will provide some restructuring measures by May, but has denied those plans will include selling off its LCD unit.

In South Korea, the benchmark Kospi index was up 0.22% at 2,049.99 points in afternoon trade.

Markets were closed due to public holidays in Hong Kong, mainland China, Australia, New Zealand, Taiwan and Thailand.

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