Asian stocks drop after weak US jobs growth

5:51 AM, Jul 9, 2012   |    comments
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SINGAPORE (AP) - Asian stocks are lower after a disappointing U.S. jobs report stoked concern that the world's biggest economy remains mired in weak growth.

The Labor Department says the U.S. economy added a less than expected 80,000 jobs last month.

When the minutes of the last Fed meeting are released later this week they may show whether the Fed is leaning toward more stimulus to boost growth. That could be a plus for Asia which relies on the U.S. as a crucial market for exports of cars, electronics and other goods.

Japan's Nikkei 225 index fell 1.3 percent to 8,906.71 and Hong Kong's Hang Seng was down 1.6 percent to 19,492.12.

South Korea's Kospi slipped 1.3 percent to 1,834.45. Australia's S&P/ASX 200 dropped 1 percent to 4,118.20 and China's Shanghai Composite shed 1.3 percent to 2,194.60.

 

 

 

 

 

First Coast News