Tokyo, Japan (BBN) – Asian markets were mixed on Monday as China reopened and despite stocks in the US, which headed lower after US jobs figures were released.
Friday’s much-anticipated jobs figures showed unemployment fell to 5.1 per cent last month, the lowest since April 2008, reports BBC.
The jobs report is the last before the US Federal Reserve meets later this month to decide whether to increase interest rates.
Japan’s benchmark Nikkei opened lower on Monday, down 0.65 per cent at 17,676.90.
By mid-morning trade however it had moved into positive territory, but only just, at 0.08 per cent and 17,816.59 points.
Economist Angus Nicholson from IG Markets said in a note that trading in Asia on Monday would be driven by two main factors.
“The delayed response to Friday’s non-farm payrolls number out of the US and the reopening of the Chinese stocks markets after a four-day break,” he said.
“Both of these factors are likely to spur further selling in Asian markets today, with the outcome of the [mainland] Chinese market reopening being the greater cause for concern.”
In early trade, the benchmark Shanghai composite index opened flat but was up 1.49 per cent at 3,207.97 points moments afterwards.
Hong Kong’s Hang Seng index was also up 0.44 per cent at 20,931.56 in early trade.
In Australia the S&P/ASX 200 was down 0.25 per cent at 5,028.20 points, while South Korea’s Kospi benchmark index was down 0.02 per cent at 1,885.65 points, after closing down 1.5 per cent on Friday.
BBN/SSR/AD
