Asia stocks dip before US Jobs Report, Dollar nurses losses

The potential for a strong US non-farm payrolls number later in day - and with it an elevated chance of a Federal Reserve rate hike soon - kept Asian financial markets nervously marking time on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. 

 

Australian stocks lost 0.6 percent and South Korea's Kospi was little changed, while Japan's Nikkei dipped 0.2 percent on a slightly stronger yen. Asian equity markets took few cues from overnight moves on Wall Street, where stocks were flat with gains in the tech sector offseting sluggish US factory activity data and lower oil prices. 

 

A report from the Institute of Supply Management (ISM) on Thursday showed US factory activity contracted for the first time in six months in August as new orders and production tumbled.

 

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