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Asian markets trade mixed on lukewarm US jobs data

05 Aug 2013 Evaluate

After witnessing rally in previous session, Asian markets are trading mixed in the Monday’s morning deals, as sentiments remained dampened after data showed US employers slowed their pace of hiring in July. Japanese Nikkei remained the biggest loser, declining by about a percent as yen traded near its strongest close in a month. South Korean benchmark Seoul Composite too was trading in the red as investors took a breather to assess the global economic outlook following the issue of major US and Chinese economic data late last week. Meanwhile, China’s services sector defied the country’s economic cool-down to extend moderately in July as new business orders recovered from a multi-year low in a rare sign of resilience. The HSBC/Markit Purchasing Managers’ Index (PMI) for the services industry stood at 51.3 in July, unchanged from June and just a whisker above a 20-month low of 51.1 struck in April. A reading above 50 suggests business grew compared to a month ago, while an outcome below 50 points to contraction. 

Shanghai Composite rose 3.02 points or 0.15% to 2,032.44, Hang Seng increased 35.99 points or 0.16% to 22,226.96, KLSE Composite added 2.56 points or 0.14% to 1,785.07 and Taiwan Weighted was up by 30.71 points or 0.38% to 8,130.59. 

On the flip side, Nikkei 225 declined 142.61 points or 0.99% to 14,323.55, Straits Times dropped 19.55 points or 0.60% to 3,234.58 and Seoul Composite was down by 4.47 points or 0.23% to 1,918.91. 

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