Asia stocks mixed on weak global data; Japanese markets closed
Published May 02, 2012 10:28PM ET
Investing.com - Asian stocks were mixed to lower on Thursday after a string of disappointing indicators in the U.S. and Europe prompted investors to sell equities and stock up on safe-haven currencies, namely the dollar and the yen.
Trading was light, with Japanese markets closed for holiday.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was down 0.38%, while Australia's S&P/ASX200 was up 0.05%.
Headwinds were building in Europe on Thursday, a key export market for Asia.
In Europe, a eurozone manufacturing purchasing managers’ index fell to a 34-month low of 45.9 in April, missing estimates for 46.0.
Factory output in Europe's largest economy, Germany, was off as well, with its manufacturing PMI dropping to 46.2 in April from 46.3 in March and below market estimates for 46.4.
Weak U.S. jobs figures dampened spirits as well.
U.S. payroll processer ADP said that private-sector, non-farm employment rose by 119,000 jobs in April, the lowest gain since last September, down from a 201,000 rise in March.
Analysts were hoping to see a figure around 177,000 in April.
Elevated unemployment rates across Europe coupled with lackluster factory data out of China in recent sessions lagged on Asian equities.
In Hong Kong, the top decliners included Bank of China, down 3.37%, CCB, down 2.76%, and Hengan International, down 2.16%.
Top Australian gainers included art Energy, up 12.07%, Energy Resources of Australia, up 8.48%, and Goodman Group, up 1.08%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.10%, while Germany's DAX 30 futures signaled a loss of 0.07%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.08%.
Dow Jones Industrial Average futures were down 0.08% while the S&P 500 futures were up 0.10%.
With Japanese markets closed, investors will look west for guidance.
Later Thursday in Europe, the European Central Bank will address interest rates and hold a press conference afterwards.
In the U.S., markets will keep an eye on weekly initial jobless claims ahead of Friday's April jobs report.
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Written By: Investing.com
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