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Asian shares close mixed after selloff
Tokyo Nikkei 225 down 1.05%, S&P ASX 200 up 0.40% (Il Sole 24 Ore Radiocor) - Tokyo , 05 Sep - Asian shares closed mixed as they struggled to stabilise after yesterday's weak session.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.28% following a nearly 3% drop during a three-day losing streak.
A surge in Treasury bonds weighed on the dollar and boosted the yen, as concerns about the US economy heightened expectations that the Federal Reserve may opt for significant rate cuts following soft US manufacturing data. Investors now braced for the closely watched US jobs report due on Friday, that could influence the US Federal Reserve's interest rate decision.
Japan's Nikkei fell to a three-week low, while tech-heavy markets stabilized after chipmakers sank yesterday tracking US giant Nvidia's record drop earlier this week.
Australia's seasonally adjusted trade surplus rose by 584 million local dollars compared to the month earlier to reach 6.009 billion, data from the Australian Bureau of Statistics showed. Exports of goods rose by 0.7% compared to the month earlier to reach 43.803 billion Australian dollars, while imports fell 0.8% to 37.794 billion.
The Nikkei index closed down 1.05% at 36,657 points. In Sydney the S&P ASX 200 closed up 0.40% at 7,982 points, while in Seoul the KOSPI closed down 0.21% at 2,575 points.
The Shanghai Composite index was up 0.21% at 2,790 points and the Hong Kong Hang Seng index was down 0.47% at 17,375 points. In Mumbai the Sensex index slid 0.12% to 82,250 points.
Most Asian markets posted a monthly loss in August after a sharp drop at the beginning of the month.
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(RADIOCOR) 05-09-24 09:11:15 (0180) 5 NNNN