Equities markets in the Asian region was seen swinging between losses and gains on Monday as investors digested the lower-than-forecasted US jobs data and China’s official PMI for the services sector.
Japan
The Japanese benchmark 225 index fell 0.31% lower, closing at 15,474.50 points, while Tokyo’s Topix index slid 0.40% to 1,276.19 points.
In Japan, Mitsubishi Chemical saw the most gains during the session, as shares rallied 4.44%, while Nintendo Co., lost 1.1% to 11,225 yen and Panasonic dropped 1% to 1,243.5 yen.
China
Hong Kong’s Hang Seng index rose 0.49% to 24,652.83 points at the time of writing, while the Chinese benchmark Shanghai composite gained 1.50% to 2,218.15 points.
Hong Kong Stock Exchange gained 1.84%, while shares in the investment company China everbright climbed the most since 2011 as shares advanced 15% to HK$13.56 after its parent’s plans for an ownership revamp of a group with $420 billion assets. On the downside, Anton Oilfield Services fell 4.3% to HK$4.23, while the property developer Sino Land declined 0.76%.
According to an official report released by China’s National Bureau of Statistics and China Federation, the nation’s services sector fell to a six-month low in July, dragged lower by the weaker property market. The non-manufacturing Purchasing Mangers’ Index (PMI) fell to 54.2 points from 55 points in June.
Last week, reports showed that the manufacturing activity for China grew at a faster pace than expected, as the manufacturing purchasing managers’ index rose to 51.7 points in July, from 51 points recorded in the previous month. While a private gauge for the manufacturing sector from HSBC Holdings and Markit Economics was revised to 51.7 points in July from a preliminary reading of 52 and up from 50.7 in June.
HSBC are expected to release its PMI figures for July on Tuesday.
The South Korean Kospi index gained 0.35% to 2,080.42 points while Australia’s benchmark S&P/ASX 200 index edged 0.28% lower to 5,540.90 points.
In Australia, the Iron ore producer Mount Gibson Iron rose 4.90% higher, while the Oil and gas company declined 5.41%.
US Jobs Report
The US jobs report showed that US non-farm payrolls rose by 209,000 in July, lower than analysts forecast of 230,000. The unemployment rate rose to 6.2% from the 6.1% seen in June. The US jobs report figures is expected to weigh on the Federal Reserve decision to raise interest rates earlier than expected.
“That data backdrop has again focused market attention on the prospect of the post-QE Fed policy environment, and when we can expect the first rate hike,” Rabobank wrote in a note. “What that in turn might mean for financial markets is perhaps best summed up by the last week’s performance,” when the S&P500 closed 2.7% lower for the week.
European stocks
Stocks in the European region were trading mixed, with the German DAX falling and investors focus on Portugal’s Banco Espirito Santo after the government announced a bailout program.
The European Euro Stoxx 50 gained 0.22% to trade at 3,079.34, while German’s DAX lost 0.31% to 9,181.21. The French CAC 40 rose 0.41% higher to 4,219.88 at the time of writing, while UK’s benchmark FTSE 100 added 0.04% to 6,682.11.
In other news, Portugal’s central bank has taken over the troubled lender Banco Espirito Santo in a 4.9 billion euro bailout that will move assets from the lender to a new company called Novo Banco, according to a statement released over the weekend.
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Asian Stocks
Equities markets in the Asian region was seen swinging between losses and gains on Monday as investors digested the lower-than-forecasted US jobs data and China’s official PMI for the services sector.
Japan
The Japanese benchmark 225 index fell 0.31% lower, closing at 15,474.50 points, while Tokyo’s Topix index slid 0.40% to 1,276.19 points.
In Japan, Mitsubishi Chemical saw the most gains during the session, as shares rallied 4.44%, while Nintendo Co., lost 1.1% to 11,225 yen and Panasonic dropped 1% to 1,243.5 yen.
China
Hong Kong’s Hang Seng index rose 0.49% to 24,652.83 points at the time of writing, while the Chinese benchmark Shanghai composite gained 1.50% to 2,218.15 points.
Hong Kong Stock Exchange gained 1.84%, while shares in the investment company China everbright climbed the most since 2011 as shares advanced 15% to HK$13.56 after its parent’s plans for an ownership revamp of a group with $420 billion assets. On the downside, Anton Oilfield Services fell 4.3% to HK$4.23, while the property developer Sino Land declined 0.76%.
According to an official report released by China’s National Bureau of Statistics and China Federation, the nation’s services sector fell to a six-month low in July, dragged lower by the weaker property market. The non-manufacturing Purchasing Mangers’ Index (PMI) fell to 54.2 points from 55 points in June.
Last week, reports showed that the manufacturing activity for China grew at a faster pace than expected, as the manufacturing purchasing managers’ index rose to 51.7 points in July, from 51 points recorded in the previous month. While a private gauge for the manufacturing sector from HSBC Holdings and Markit Economics was revised to 51.7 points in July from a preliminary reading of 52 and up from 50.7 in June.
HSBC are expected to release its PMI figures for July on Tuesday.
The South Korean Kospi index gained 0.35% to 2,080.42 points while Australia’s benchmark S&P/ASX 200 index edged 0.28% lower to 5,540.90 points.
In Australia, the Iron ore producer Mount Gibson Iron rose 4.90% higher, while the Oil and gas company declined 5.41%.
US Jobs Report
The US jobs report showed that US non-farm payrolls rose by 209,000 in July, lower than analysts forecast of 230,000. The unemployment rate rose to 6.2% from the 6.1% seen in June. The US jobs report figures is expected to weigh on the Federal Reserve decision to raise interest rates earlier than expected.
“That data backdrop has again focused market attention on the prospect of the post-QE Fed policy environment, and when we can expect the first rate hike,” Rabobank wrote in a note. “What that in turn might mean for financial markets is perhaps best summed up by the last week’s performance,” when the S&P500 closed 2.7% lower for the week.
European stocks
Stocks in the European region were trading mixed, with the German DAX falling and investors focus on Portugal’s Banco Espirito Santo after the government announced a bailout program.
The European Euro Stoxx 50 gained 0.22% to trade at 3,079.34, while German’s DAX lost 0.31% to 9,181.21. The French CAC 40 rose 0.41% higher to 4,219.88 at the time of writing, while UK’s benchmark FTSE 100 added 0.04% to 6,682.11.
In other news, Portugal’s central bank has taken over the troubled lender Banco Espirito Santo in a 4.9 billion euro bailout that will move assets from the lender to a new company called Novo Banco, according to a statement released over the weekend.
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