Tokyo shares open 0.32% lower

Tokyo shares open 0.32% lower
Updated on

Summary Benchmark Nikkei 225 index at the Tokyo Stock Exchange fell 56.17 points to 17,666.25 in early trade

 

TOKYO (AFP) - Tokyo shares opened 0.32 percent lower Friday morning as Wall Street remained flat with trading quiet ahead of a US jobs report later in the day.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange fell 56.17 points to 17,666.25 in early trade.

Wall Street equities finished little changed Thursday as investors took stock of mixed US economic data and awaited the monthly jobs figures.

Washington will release September unemployment figures on Friday, with the improving labour market a key factor supporting the Federal Reserve s plan to hike near-zero interest rates.

"US payrolls day has come round again, but amid a still lingering sense that it is global market (and) economic conditions staying the Fed s hand at present, tonight s September numbers might not be completely crucial for upcoming (Fed) deliberations," National Australia Bank said in a commentary.

"Much stronger or weaker than expected data could of course instantly challenge that view."

A reading on US manufacturing activity showed near-flat activity in September, while construction spending rose to a seven-year high in August.

Analysts expect Friday s jobs report will show the US economy added 205,000 jobs in September and the unemployment rate was unchanged at 5.1 percent, a seven-year low.

Japan s jobless rate edged up to 3.4 percent in August from 3.3 percent in the previous month, official data showed Friday.

A separate survey showed that there were 123 job offers for every 100 job hunters in August, or a ratio of 1.23, the highest such figure in 23 years.

The closely-watched labour index, which was at 1.21 the previous month, showed that Japan s labour market remained tight despite the slight gain in the jobless rate.

The Dow Jones Industrial Average ended the day flat, declining 0.08 percent.

The broad-based S&P 500 advanced 0.20 percent, while the tech-rich Nasdaq Composite Index gained 0.15 percent.

On currency markets, the dollar was little changed at 119.91 yen from 119.93 yen Thursday in New York.

The euro was trading at $1.1182 and 134.09 yen compared with $1.1187 and 134.16 yen in US trade.

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