Asian shares were mostly lower Monday as traders assessed a mixed US jobs report for clues on the Federal Reserve’s next decision. The intensifying Ukraine-Russia conflict also weighed on sentiment.
Equity gauges declined in mainland China, South Korea and Australia. Chinese pharmaceutical stocks were among the worst performers in the nation on reports of a widening anti-bribery campaign in the health sector. Japanese stocks advanced as upbeat earnings and stabling domestic bond yields offset headwinds from a fall in Wall Street shares.
US equity futures advanced in Asia after the S&P 500 ended 0.5% lower Friday as Apple Inc. dropped almost 5% after its outlook sparked worries over tepid demand. By contrast, Amazon.com Inc. climbed over 8% on a bullish revenue forecast.
Oil was steady after Ukraine attacked another Russian vessel over the weekend, a signal of a rapidly expanding war that puts at risk significant flows of Russia’s commodities from the Black Sea. Wheat also extended its advance.
Treasury yields advanced during Asian trading hours, reversing some of Friday’s declines when the interest-rate sensitive two-year yields and 10-year yields fell more than 10 basis points after US payrolls came in below estimates.
