Aerial view of Shanghai Financial District skyscrapers and Huangpu River at sunset.
Tobias She | Electronic+ | Getty Images
Asia-Pacific markets opened lower on Monday after a U.S. jobs report on Friday dampened investor hopes for an early interest rate cut by the Federal Reserve.
Australian S&P/ASX 200 Index Trading volume fell 0.99%. Hong Kong’s Hang Seng Index futures were last at 18,971 points, lower than the Hang Seng Index’s closing point of 19,064.29 points on Friday.
Japanese markets were closed for a holiday.
China is due to release December trade data later in the day, while India is expected to report its inflation data.
Asian investors will continue to focus on Chinese bond yields after China’s central bank suspended government bond purchases on Friday. China’s 10-year government bond yield plummets Record low this month.
The country’s onshore yuan hits a record high The exchange rate hit a 16-month low against the U.S. dollar last weekwhile the offshore yuan has been declining for several consecutive months since September last year. China’s benchmark index, CSI 300, It closed Friday at its lowest level since September 2024.
Looking ahead to the rest of the week, South Korea’s central bank is expected to hold a meeting on Thursday, while Australia is expected to release its December unemployment rate on the same day. China will release fourth-quarter 2024 GDP, retail sales and industrial output data on Friday.
us Stocks fell on Friday after a hot jobs report.
this Dow Jones Industrial Average It closed down 696.75 points, or 1.63%, to 41,938.45 points. this S&P 500 Index fell 1.54% to 5,827.04, while Nasdaq Index It fell 1.63% to 19,161.63. Friday’s losses put the major benchmark index into the red through 2025.
U.S. payrolls rose by 256,000 in December, while economists surveyed by Dow Jones Expected increase of 155,000. The unemployment rate is expected to remain at 4.2%, falling to 4.1% this month. The rate of return is 10 Year Treasury Bill After the report was released, it surged to its highest level since late 2023.
—CNBC’s Pia Singh and Sean Conlon contributed to this report.
