Asian stocks fell Monday after another rout hit Wall Street on Friday, as a highly anticipated update on the US job market came in weak enough to add to worries about the economy.
The Nikkei 225 index was hovering around its lowest level in almost a month during morning trading, and it slipped 0.5 per cent to close at 36,215.75.
Japan’s gross domestic product grew by an annualised 2.9 per cent in the second quarter, according to revised data from the Cabinet Office released on Monday. This was below expectations.
Any broader risk aversion may have an amplified effect on Japanese equities, with safe-haven flows potentially supporting the yen, which is looked upon as negative for the country’s exporters, Yeap Jun Rong, market strategist at IG, said in a commentary.
The US dollar was trading at less than 143 Japanese yen in Monday trading.
Stocks in Chinese markets also racked up losses after worse-than-expected inflation data disappointed investors. Data from the National Bureau of
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