Asia stocks slip, drop limited after U.S. data
HONG KONG: Asian stocks retreated on Friday and the dollar edged up after a
disappointingly big drop in U.S. employment prompted investors to pull back from
commodities, resource-linked shares and higher-yielding currencies
.
But the equity market decline across Asia was limited as the report showing that U.S.
companies slashed nearly half a million jobs in June did not shake hopes that a slow
recovery is under way.
The Australian dollar
, whose 12 percent surge against the U.S. dollar this year has been closely tied to the
four-month rally in stocks, edged up as the U.S. payrolls report had limited fallout.
Analysts at Rabobank said the U.S. jobs report was a "reality check" for investors who had
become overly optimistic about how quickly the global economy could recover from its
deepest recession in decades.
Source:http://www.expressbuzz.com/edition/story.aspx?Title=Asia+stocks+slip,+drop+lim
ited+after+U.S.+data&artid=fhsQWxUhHvo=&SectionID=XT7e3Zkr/lw=&MainSectionI
D=XT7e3Zkr/lw=&SectionName=HFdYSiSIflu29kcfsoAfeg==&SEO=
HONG KONG: Asian stocks retreated on Friday and the dollar edged up after a
disappointingly big drop in U.S. employment prompted investors to pull back from
commodities, resource-linked shares and higher-yielding currencies
.
But the equity market decline across Asia was limited as the report showing that U.S.
companies slashed nearly half a million jobs in June did not shake hopes that a slow
recovery is under way.
The Australian dollar
, whose 12 percent surge against the U.S. dollar this year has been closely tied to the
four-month rally in stocks, edged up as the U.S. payrolls report had limited fallout.
Analysts at Rabobank said the U.S. jobs report was a "reality check" for investors who had
become overly optimistic about how quickly the global economy could recover from its
deepest recession in decades.
Source:http://www.expressbuzz.com/edition/story.aspx?Title=Asia+stocks+slip,+drop+lim
ited+after+U.S.+data&artid=fhsQWxUhHvo=&SectionID=XT7e3Zkr/lw=&MainSectionI
D=XT7e3Zkr/lw=&SectionName=HFdYSiSIflu29kcfsoAfeg==&SEO=
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