Latest News Update About, Most Asian stock markets fell Friday, dragged down by more evidence the U.S. recovery is sputtering ahead of monthly figures on employment. The mood in the region was cautious after new unemployment benefit claims in the U.S. rose to their highest level in four months. Investors are now awaiting a broader U.S. jobs report due later Friday that will give a key reading on the health of the world’s biggest economy.
The Labor Department is expected to say private employers hired 90,000 workers in July, a slight increase from the 83,000 hired in June. But because of government layoffs tied to cutting temporary census jobs, the unemployment rate is expected to rise to 9.6 percent from 9.5 percent. Japan’s benchmark Nikkei 225 stock index lost 29.82 points, or 0.3 percent, to 9,624.10 and Hong Kong’s Hang Seng was off 52.53 points, or 0.2 percent, at 21,499.56.
South Korea’s Kospi declined 0.3 percent to 1,778.30 and Australia’s S&P/ASX 200 shed 0.4 percent to 4,547.00. The Shanghai Composite Index fell 0.5 percent to 2,607.14.
Markets in Taiwan, New Zealand and Southeast Asian nations also fell.
The U.S. government said Thursday that first-time claims for unemployment benefits last week jumped to their highest level in four months in a grim reminder of how weak the U.S. job market remains. Analysts had expected a small fall in jobless claims.
The Dow fell 5.45, or 0.1 percent, to 10,674.98. The Standard & Poor’s 500 index fell 1.43, or 0.1 percent, to 1,125.81, while the Nasdaq composite index fell 10.51, or 0.5 percent, to 2,293.06.
In currencies, the dollar rose to 85.99 yen from 85.87 yen in New York late Thursday. The euro rose to $1.3187 from $1.3181.
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