Asian equity indices are exhibiting mixed trade in early deals on Thursday, with investors tracking regional economic data for direction. The mood is generally cautious with investors looking ahead to the crucial monthly US jobs report due later in the day. After opening higher on a positive lead from Wall Street, the Japanese stock market declined with investors treading cautiously, choosing to wait for the crucial US jobs data. Japan's service sector activity declined further in June. The Markit Japan Services PMI edged down to 49.0 in June from 49.3 in May, signaling contraction for the third consecutive month. The decrease in service sector output was driven by the recent increase in sales tax. Among other markets in the Asia-Pacific region, Singapore, Taiwan, Shanghai and Malaysia are modestly higher, while Hong Kong, Indonesia and South Korea are trading weak.
Straits Times gained 14.21 points or 0.44% to 3,278.12, Shanghai Composite increased by 1.67 points or 0.08% to 2,061.09, FTSE Bursa Malaysia KLCI soared 0.31 points or 0.02% to 1,887.15 and Taiwan Weighted was up by 37.57 points or 0.40% to 9,522.53.
On the flip side, Nikkei 225 tumbled by 34.29 points or 0.22% to 15,335.68, Hang Seng slipped 23.56 points or 0.10% to 23,526.06, KOSPI Index dropped 4.61 points or 0.23% to 2,010.67 and Jakarta Composite was down by 7.57 points or 0.15% to 4,900.71.