Asian shares fell Friday as wild swings roiled global bond and currency markets, rattling investors ahead of a key US jobs report that may sway the Federal Reserve’s interest-rate decisions.
Japan’s Nikkei 225 fell 1.1%, while Hong Kong’s Hang Seng index dropped 2.6%. The broader MSCI Asia-Pacific index, excluding Japan, fell 0.3%. South Korea’s Kospi and Australia’s S&P/ASX 200 climbed 0.5% and 0.8%, respectively, while mainland Chinese markets were shut for a holiday, Reuters said.
The US 10-year Treasury yield declined after hitting 5.34% Thursday, its highest level since 2002. According to The Associated Press, rising bond yields have driven up borrowing costs and put more pressure on stocks.
Investors awaited the September US nonfarm payrolls report. Economists expect 90,000 jobs were added and unemployment held steady at 4.1%, Reuters reported.
“A hot wages print could prove particularly influential for US rates, Treasuries and the USD,” said Chris Weston, head of research at Pepperstone, according to Reuters.
Oil prices remained high on increased US Middle East military tension adds to inflation worries.
