Downbeat data out of Japan weighed on Asian stocks ahead of today's U.S. nonfarm payrolls report
Stocks in Asia mostly retreated, as traders digested a mixed round of data and looked ahead to the
U.S. nonfarm payrolls report. Japan's Nikkei led regional markets lower, plunging nearly 3.6% after the Bank of Japan's Tankan survey revealed business sentiment was at its lowest level in three years among major manufacturers. Joining the sell-off were Hong Kong's Hang Seng and South Korea's Kospi, down 1.3% and 1.1%, respectively -- with the losses in Seoul driven by soft trade data. Bucking the trend lower was China's Shanghai Composite, which edged 0.2% higher following monthly gains in both the Caixin manufacturing purchasing managers index (PMI) and the government's official PMI.
European stocks are selling off, with traders jittery ahead of the U.S. jobs report. Markets are also reacting negatively to the downbeat data out of Japan, the steepest drop in European factory good prices since 2009, and widening losses in oil prices, with Brent crude futures off more than 2% at $39.41. At last check, France's CAC 40 and Germany's DAX have both stumbled about 2.2%, while London's FTSE 100 has dropped 1.3%.
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