American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Asian stocks dip ahead of US jobs data: Nikkei extends decline to 3rd day

by admin January 10, 2025
January 10, 2025
Asian stocks dip ahead of US jobs data: Nikkei extends decline to 3rd day

Asian equities were broadly lower as investors exercised caution ahead of the US nonfarm payrolls data, which is expected to shape the Federal Reserve’s monetary policy outlook.

Global financial markets have experienced volatility at the start of the year, with rising Treasury yields reflecting moderated expectations for Fed rate cuts.

Concerns over a slowdown in Chinese economic growth further exacerbate the cautious sentiment in Asia.

Nikkei extends losses to third day

The Nikkei 225 Index in Japan also faced losses, declining 0.49%, to 39,411.76.

Weakness was observed across most sectors, with index heavyweights and financial stocks leading the decline, while technology stocks were a rare bright spot.

SoftBank Group lost nearly 1%, and Fast Retailing fell almost 7% following disappointing results in China.

Household spending data for November surpassed expectations, reflecting robust wage growth from earlier in 2024.

China and Hong Kong markets remain in the red

In China, the Shanghai Shenzhen CSI 300 and Shanghai Composite indexes both fell around 0.3%, while Hong Kong’s Hang Seng index remained flat.

All three indexes were on track for weekly losses, with the Hang Seng down 2.2%, weighed by Tencent Holdings’ addition to a US blacklist.

This move, undertaken by the Biden administration, raised concerns about escalating tensions between the US and China ahead of the incoming Trump administration.

Weak inflation data in China further dented sentiment, though it also spurred hopes for additional stimulus measures from Beijing.

Other Asian markets

The Australian stock market was down during mid-market trading on Friday, adding to the losses from the previous session despite opening in the green.

The benchmark S&P/ASX 200 Index fell 50.40 points, or 0.61%, to 8,278.80, with a low of 8,262.20 earlier.

Among major miners, BHP Group and Rio Tinto posted gains of nearly 1% and 2%, respectively, while Mineral Resources and Fortescue Metals edged lower.

South Korea’s KOSPI was trading flat at the time of writing. Foreign investors and institutions were net sellers, offloading 61.4 billion won and 355.3 billion won, respectively, while individual investors purchased 387.1 billion won.

The top stocks by market capitalization on the KOSPI showed mixed performance, with Hyundai Motor and Kia gaining 5% and 2.5%, respectively, and SK Hynix rising 1.5%.

Wall Street’s struggles on Thursday

The major US indices closed the session narrowly mixed after spending the day oscillating across the unchanged line.

The Nasdaq dipped slightly, losing 10.80 points or 0.1% to finish at 19,478.87. Meanwhile, the Dow gained 106.84 points or 0.3%, settling at 42,635.20.

The S&P 500 posted a modest increase of 9.22 points or 0.2%, ending at 5,918.25.

Several Fed officials reiterated on Thursday that interest rates are likely to remain at current levels for an extended period, with cuts contingent on meaningful progress in reducing inflation.

The US jobs data, due Friday, is expected to show a deceleration in hiring, with forecasts suggesting an addition of 155,000 jobs in December.

The unemployment rate is projected to hold steady at 4.2%, and average hourly earnings growth is anticipated to cool slightly.

The post Asian stocks dip ahead of US jobs data: Nikkei extends decline to 3rd day appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Plug Power stock: bad news from Toyota, but a 650% surge is likely
next post
USD/BRL is falling: is this the end of the Brazilian real crash?

Related Posts

Michael Saylor’s MicroStrategy invests $1.1 billion to add...

September 14, 2024

SoftBank Vision Fund posts $3.96 billion quarterly gain:...

November 12, 2024

Elon Musk says his companies are ‘suffering’ due...

March 29, 2025

The Dow just hit 40,000. Here’s a look...

May 19, 2024

Is Novo Nordisk falling behind Eli Lilly in...

April 22, 2025

Expensive Asana stock price could surge by 195%...

December 22, 2024

Top 4 catalysts for the Dow Jones and...

May 26, 2025

United Airlines stock boomed in 2024: time to...

January 2, 2025

Aviation incidents seem to be proliferating, but experts...

March 10, 2024

PayPal stock price analysis: the sky is the...

November 8, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,002)
    • Investing (2,453)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved