Asian Equities Remain Lower on Oil’s Slump

Asian bourses suffered losses early Thursday, after Wall Street finished sharply lower overnight on the back of further oil price declines, while a worse-than-expected machinery orders report from Japan accelerated the market’s slide.

Japan’s leading gauge of capital spending snapped a four-month rising streak in October. Core machinery orders fell 6.4 percent on month, worse than expectations for a 2.4 percent decline in a Reuters poll and slower than September’s 2.9 percent increase. Year-on-year, machinery orders fell 4.9 percent in October, worse than expectations for a 0.3 percent decline.

Providing some relief is the announcement of Australia’s employment data. For the month of November, the country added 42,700 jobs, above the 15,000 forecast by Reuters, data from the Australian Bureau of Statistics (ABS) showed on Thursday. The jobless rate was 6.3 percent, up from 6.2 percent in October.

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