Asian shares were mostly down today (September 7th) after a weak overnight session on Wall Street as investors speculated over the timing of a US rate hike.
US stocks ended last Friday on a subdued note after the nonfarm payrolls report showed that 173,000 jobs were created in August, missing expectations. Economists surveyed by Reuters expected 220,000 extra jobs in August, following a 215,000 rise in July.
The Dow Jones industrial average fell 1.7 per cent to 16,102.38, the Standard & Poor's 500 edged down 1.5 per cent to 1,921.22 and the Nasdaq composite slipped 1.1 per cent to 4,683.92.
Meanwhile, China's share markets reopened after being closed for two days last week for World War II commemorations. The benchmark Shanghai Composite index closed down 2.5 per cent in a volatile session.
People's Bank of China (PBoC) Governor Zhou Xiaochuan sought to reassure markets, saying that China's stock market has almost completed its correction after a bubble formed in the first half of the year.
Hong Kong's Hang Seng was down 1.2 per cent at 20,583.52, while Seoul's Kospi edged down 0.1 per cent to 1,883.22. Sydney's S&P/ASX 200 declined 0.2 per cent to 5,030.42, while Tokyo's Nikkei 225 gain 0.4 per cent to 17,860.47.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.