Asian markets fell Friday on caution ahead of the U.S. nonfarm payrolls data, while Japanese stocks dropped for a third straight day as exporters came under pressure from the yen’s sharp gains overnight. Australia’s S&P/ASX 200 dropped 0.7%, South Korea’s Kospi lost 1.1% and Hong Kong’s Hang Seng Index shed 0.6%. Japan’s Nikkei Stock Average dropped 0.9%. The benchmark had earlier in the day suffered a bigger drop to record losses of more than 20% from the peak it reached on May 23, entering a so-called bear-market territory. The broader Topix skidded 1.9%.China’s Shanghai Composite was up a modest 0.2% after suffering six straight days of losses.Australian markets were also set to close on Monday for a national holiday.
Posted on: Fri, 07 Jun 2013 05:16:52 +0000
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