ASIAN markets have closed mixed after lower-than-expected US jobs growth sounded a warning about the recovery of the world's biggest economy.
Investors on Monday failed to follow Wall Street, which closed last week on record highs despite the job figures indicating that growth remains sluggish.
Tokyo fell 1.44 per cent or 208.12 points to close at 14,258.04, Seoul dropped 0.37 per cent or 7.16 points to 1,916.22, and Sydney fell 0.11 per cent or 5.5 points to 5,111.3.
But Shanghai rose 1.04 per cent or 21.06 points to 2,050.48, while Hong Kong gained 0.14 per cent or 31.04 points to 22,222.01.
Markets in the region were digesting Friday's Labor Department figures, which showed the US added just 162,000 jobs in July, well below the 175,000 increase expected by analysts.
The unemployment rate fell to 7.4 per cent from 7.6 per cent in June.
The data will serve as an indicator of when the Federal Reserve may rein in its bond-buying program, with sluggish growth suggesting any scaling back of the massive stimulus scheme will be delayed.
Despite the disappointing figures leading to an initial dip, Wall Street saw a late surge to end the week at a record high, with the Dow Jones Industrial Average closing up 0.19 per cent or 30.34 points at 15,658.36. The broad-market S&P 500 ended up 0.16 per cent or 2.80 points at 1,709.67.
The release at the weekend of a slightly improved Chinese non-manufacturing purchasing managers' index (PMI) failed to give Asian stocks a boost.
China's official non-manufacturing PMI for July came in at 54.1, up from 53.9 the previous month. A reading below 50 indicates contraction, while anything above signals growth.
Banking giant HSBC said on Monday its PMI for the services industry in China stood at 51.3 in July, unchanged from June.
The US dollar fetched Y98.76 in afternoon Asian trade, almost flat from Y98.89 in New York on Friday, but sharply down from around Y99.50 in Tokyo on Friday.
The euro bought $US1.3274 and Y131.11 on Monday against $US1.3279 and Y131.35 in US trade.
Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, said there was "some caution over stocks having risen too sharply" in previous sessions.
Still, "falls are likely to be limited as uncertainty has broadly receded over the global economic outlook in recent weeks", he added.
Oil prices turned higher on Monday, with New York's main contract, West Texas Intermediate for delivery in September, gaining 30 US cents to $US107.24 a barrel in afternoon trade. Brent North Sea crude for September rose 25 US cents to $US109.20.
"The HSBC purchasing managers' index for the services industry in China remains in an expansionary region, and this has provided support for crude prices," Lee Chen Hoay, investment analyst at Phillip Futures in Singapore, told AFP.
Gold cost $US1,315.90 at 1820 AEST, compared with $US1,289.00 late on Friday.
In other markets:
- Manila fell 0.37 per cent, or 24.22 points, to 6,509.73.
SM Prime Holdings dropped 0.72 per cent to 16.50 pesos while Ayala Corp fell 0.67 per cent to 596 pesos.
- Taipei rose 0.48 per cent, or 38.75 points, to 8,138.63.
MediaTek shed 1.24 per cent to $Tw358.5 while HTC was up 7 per cent at $Tw153.
- Wellington climbed 0.14 per cent, or 6.59 points, to 4,589.49.
Fletcher Building gained 1.55 per cent to $NZ8.54 and Fonterra Shareholders' Fund slipped 3.65 per cent to $NZ6.86.
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