Asian shares ease as U.S. payrolls dampen market mood
Asian share markets placed below a three-month through, with China performing a shade weaker as investors grew cautious ahead of key U.S. figures. Meanwhile, crude prices tallied an upbeat session, putting oil indexes near their historic highs.
MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% increase. With a total of 711 points, it now stood below its record peak of 712.57 seen on Wednesday. Japan’s benchmark index Nikkei gained 0.4%, while Australian shares reached high grounds as investors anticipated better-than-expected figures.
The bull market was seen easing as investors’ enthusiasm was dampened by the prospects of inflation and possible shift in monetary policy. Another factor that heavily dragged sentiment was surging oil prices, which recently tallied a 1-1/2 year high.