Asia Stocks Fall Ahead of U.S. Jobs Data as China Reopens Lower
- ‘Investors are really cautious’ before payrolls: BDO Unibank
- Japanese shares gain as BOJ bond buying operation weakens yen
Asian shares fell as Chinese stocks declined when trading resumed after a week-long break while investors wait for a U.S. nonfarm payrolls report later Friday that could indicate the timing of rate increases by the Federal Reserve.
The MSCI Asia Pacific Index reversed a two-day gain, with materials and industrial shares the biggest drag. China shares in the mainland slid as the central bank raised interest rates in open-market operations and as they priced in concern over U.S. President Donald Trump’s policies. The Topix index rose in Tokyo as government bond yields retreated and the yen weakened after the Bank of Japan offered to buy an unlimited amount of bonds at a fixed rate to reassert control over surging yields. India’s shares were poised to halt a two-day rally.