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Shares in Asia mixed with Sydney up after shrugging off jobs data

Stock Markets Oct 19, 2016 10:22PM ET
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Investing.com - Shares in Asia were mixed on Thursday with Sydney shrugging off weak jobs data and edging out gains.

S&P/ASX 200 rose 0.18%, while the Shanghai Composite eased 0.09%. The Nikkei 225 gained 1.02%.

In Australia, employment change figures for September showed a plunge of 9,800 jobs, compared to a gain of 15,000 seen and the the second straight monthly drop. The figures came under a participation rate that dipped to 64.5%, below the expected 64.8%, for an unemployment rate rate steady at 5.6%, less than the 5.7% estimated. The figures confirm job gains mainly in part-time employment. So far this year, the economy has added 50,700 jobs but this includes a 162,800 rise in part-time jobs, while full-time employment is down by 112,100.

Also reported was the NAB quarterly business confidence survey that came in at plus-5 for the third quarter, from plus-3 previously. NAB said the leading indicators from the survey continued to point to a recovering non-mining economy. NAB, however, warned recent downward trends in retail are a concern and warrant close monitoring.

U.S. stocks were higher after the close on Wednesday, as gains in the Oil & Gas, Basic Materials and Financials sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average added 0.22%, while the S&P 500 index added 0.22%, and the NASDAQ Composite index added 0.05%.

Shares in Asia mixed with Sydney up after shrugging off jobs data
 

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