Investing.com - Asian stocks were mixed on Tuesday, with Japanese shares up on a weaker yen, which was good for exporters, although Hong Kong and Australia dipped on concerns the U.S. economy faces a hurdle-ridden recovery, as evidenced by a recent dismal jobs report.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was down 1.01%, Australia's S&P/ASX200 was down 0.69%, while Japan’s Nikkei 225 Index was up 0.68%.
Dreary jobs data hit the wire in the U.S. last Friday when the Bureau of Labor Statistics reported the economy added a net 120,000 nonfarm payrolls in March, well below the range of most market expectations.
The government revised February’s payrolls to 240,000 from 227,000 but cut January's figure by 9,000 to 275,000.
The numbers fueled sentiment that the Federal Reserve may consider stimulating the economy by buying assets held by banks, known as quantitative easing, under which the Fed pumps liquidity into the economy in a way that weakens the dollar in exchange for increased job creation.
While such easing measures can pump up stock prices down the road thanks to the surge of liquidity, share prices fell on the news in that the U.S. economy remains lackluster and demand weak, which is not good for stocks.
Many markets had been closed both Friday, the day of the jobs report, and Monday on holiday, and investors were returning to adjust their portfolios to a more tempered outlook of the global economy.
Meanwhile in Japan, expectations that the Bank of Japan will continue rolling out easing measures to weaken the yen fueled gains in Tokyo equities markets.
In Hong Kong, the top decliners included COSCO Pacific, down 3.06%, China Unicom, down 3.01%, and Li & Fung, down 2.85%.
Top Australian decliners included Kagara Zinc, down 6.67%, OM Holdings, down 4.88%, and Energy World Corporation, down 4.76%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.39%, while Germany's DAX 30 futures signaled a gain of 0.30%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.39%.
Dow Jones Industrial Average futures were up 0.27% while the S&P 500 futures were also up 0.29%.
The market will await statements from the Bank of Japan over decisions to continue weakening the yen, possibly due out later Tuesday.
Also on Tuesday, Federal Reserve Bank of Dallas President Richard Fisher is due to speak, and markets will await clues suggesting plans to change or stick with current policies.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was down 1.01%, Australia's S&P/ASX200 was down 0.69%, while Japan’s Nikkei 225 Index was up 0.68%.
Dreary jobs data hit the wire in the U.S. last Friday when the Bureau of Labor Statistics reported the economy added a net 120,000 nonfarm payrolls in March, well below the range of most market expectations.
The government revised February’s payrolls to 240,000 from 227,000 but cut January's figure by 9,000 to 275,000.
The numbers fueled sentiment that the Federal Reserve may consider stimulating the economy by buying assets held by banks, known as quantitative easing, under which the Fed pumps liquidity into the economy in a way that weakens the dollar in exchange for increased job creation.
While such easing measures can pump up stock prices down the road thanks to the surge of liquidity, share prices fell on the news in that the U.S. economy remains lackluster and demand weak, which is not good for stocks.
Many markets had been closed both Friday, the day of the jobs report, and Monday on holiday, and investors were returning to adjust their portfolios to a more tempered outlook of the global economy.
Meanwhile in Japan, expectations that the Bank of Japan will continue rolling out easing measures to weaken the yen fueled gains in Tokyo equities markets.
In Hong Kong, the top decliners included COSCO Pacific, down 3.06%, China Unicom, down 3.01%, and Li & Fung, down 2.85%.
Top Australian decliners included Kagara Zinc, down 6.67%, OM Holdings, down 4.88%, and Energy World Corporation, down 4.76%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.39%, while Germany's DAX 30 futures signaled a gain of 0.30%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.39%.
Dow Jones Industrial Average futures were up 0.27% while the S&P 500 futures were also up 0.29%.
The market will await statements from the Bank of Japan over decisions to continue weakening the yen, possibly due out later Tuesday.
Also on Tuesday, Federal Reserve Bank of Dallas President Richard Fisher is due to speak, and markets will await clues suggesting plans to change or stick with current policies.