Tokyo, Japan (BBN)-Tokyo’s Nikkei 225 opened lower on Monday, following falls on Friday in the US after disappointing labour market numbers.
The benchmark index was down 1.36 per cent at 16,602.06 in mid-morning trade, reports BBC.
On Friday, the US said it had added 151,000 jobs to its economy in January, pushing the country’s unemployment rate down to 4.9 per cent.
The numbers were lower than expected, however, marking a big slowdown from December’s addition of 292,000 jobs.
Shares in some big exporters were also weighing on Japan’s market, with Honda down 1.35 per cent and Toyota down more than 3 per cent.
On Friday, Toyota reported a 4.7 per cent rise in net income for the three months to December.
However, the firm’s operating profit for the quarter fell by 5.3 per cent, missing forecasts.
Elsewhere, Australia’s market was one of the only other exchanges open on Monday.
China’s mainland markets are shut all week for Lunar New Year celebrations.
Hong Kong and South Korea are closed for three days.
“Lunar New Year has an interesting effect on Asian markets as there is an eerie quiet, with only Japan and Australia open for business for most of the week,” said IG Markets’ Evan Lucas.
“Volumes will be well below average and there tends to be a build-up of global leads that is released once Asian investors return to their desk – expect ‘release valve’ trading late in the week,” he added.
Australia’s S&P/ASX 200 was down 0.37 per cent to 4,958.00 points in morning trade.