Asian equity markets started the week lower following weak economic data from the worlds two largest economies. The U.S. added 209,000 jobs last month, below expectations for 233,000, while the jobless rate rose to 6.2 percent from 6.1 percent, which saw the S&P 500 post its worst weekly loss since June 2012. But traders say the data reinforced the view that the Federal Reserve wont hike rates until the second half of next year. The mood in Asia was also soured after data over the weekend showed growth in Chinas services sector hit a six-month low in July as new orders rose at their weakest rate in a year. Nikkei slips 0.4%. Japanese shares fell to a new one-week low, extending losses into a third session. Kospi up 0.4%. South Korean shares managed to avoid Asia-wide losses thanks to a 3 percent rally in automaker Kia Motors. CNBC N225 15461.58 (-61.53) KS200 268.28 (-0.28) (Prices on Reuters at 0051GMT)
Posted on: Mon, 04 Aug 2014 00:51:57 +0000
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