Asian
stocks rose fell as investors awaited a monthly government report on
U.S. jobs to gauge the strength of the world’s largest economy.
The
MSCI Asia Pacific Index dropped 0.4 percent to 125.26 as of 9:00 a.m.
in Tokyo. Economists expect U.S. employers to have added about 201,000
workers in September after a gain of 173,000 in August. The data will
factor into the Federal Reserve’s next rate decision, due Oct. 28, as
the central bank also weighs global financial-market turmoil.
The
regional benchmark index’s drop Friday trimmed its advance this week to
0.2 percent with mainland Chinese markets currently shut for a
week-long holiday.
Japan’s
Topix index retreated 0.6 percent. Bank of Japan officials see little
need for an immediate expansion of monetary stimulus and would prefer to
hold off to get a clearer picture of the economic outlook, according to
people familiar with their deliberations.
Board
members who gather for a policy meeting Oct. 6-7 want the opportunity
to observe further economic data and developments in financial markets
at home and abroad, according to the people, who asked not to be named
because talks are private.
Source: Bloomberg
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