Asia-Pacific markets fall ahead of U.S. jobs report

The logo of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), is displayed at the Tokyo Stock Exchange, Japan, Friday, October 2, 2020.

Akio Kon | Bloomberg via Getty Images

Stocks in the Asia-Pacific region fell on Friday ahead of the US monthly employment report, which should guide the Federal Reserve’s monetary decision in November.

Payrolls are expected to rise by 275,000 in September and unemployment is expected to remain stable at 3.7%, according to economists polled by Dow Jones.

that of Hong Kong Hang Seng Index lost 1.13% and the Hang Seng Tech index lost 2.8%. The Nikki 225 in Japan was down 0.6% and the Topix index was down 0.66%. In Australia, the S&P/ASX 200 fell 0.57%.

South Korea Kospi gained slightly while the Kosdaq fell 0.38%. MSCI’s broadest Asia Pacific ex-Japan equity index fell about 1%. Mainland China markets remain closed for holidays.

Overnight in the United States, major indices fell – the Dow Jones Industrial Average fell 346.93 points, or 1.15%, to 29,926.94. The S&P 500 fell 1.02% to 3,744.52, while the Nasdaq Composite was down 0.68% to 11,073.31.

“Stocks struggled as markets await the much-anticipated U.S. payrolls data…and comments from Fed officials maintained a ‘need more’ mood,” the analysts wrote. from ANZ Research in a Friday note.

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