SYDNEY: Asian share markets were in a cautious mood on Monday (Aug 7) after a mixed US jobs report sparked a rally in beaten-down bonds, but new hurdles lay ahead in the shape of US and Chinese inflation figures due later this week.
MSCI’s broadest index of Asia-Pacific shares outside Japan was a fraction firmer in thin trade, after losing 2.3 per cent last week.
Japan’s Nikkei slipped 0.2 per cent, but found support at its July low. A summary of the last Bank of Japan meeting showed members felt making yield policy more flexible would help extend the life of its super-easy stimulus.
Chinese blue chips eased 0.7 per cent with investors still disappointed at the lack of major and concrete stimulus steps from Beijing.
EUROSTOXX 50 futures dipped 0.3 per cent and FTSE futures 0.5 per cent. Going the other way, S&P 500 futures added 0.4 per cent and Nasdaq futures 0.5 per cent.
With roughly 90 per cent of S&P 500 earnings reported, results are 4 per cent better than consensus estimates with more than 79 per cent of companies beating the Street. Results due this week include Walt Disney and News Corp.
Data on US consumer prices are forecast to show headline inflation picking up slightly to an annual 3.3 per cent, but the more important core rate is seen slowing to 4.7 per cent.Source: Reuters
