Asian Equities Lower after Weak U.S. Wage Growth

Asian stock markets were broadly lower on Monday, taking cues from a negative finish on Wall Street last week after December’s nonfarm payrolls report gave a mixed view of the economy.

U.S. stocks closed lower on Friday, pulling benchmarks back into the red for the year, as the December jobs report topped expectations but hourly earnings declined. Figures from the Labor Department showed the U.S. economy added 252,000 to payrolls last month, after generating an unexpectedly strong 353,000 jobs in November. The unemployment rate, meanwhile, dropped to 5.6 percent.

The Dow Jones Industrial Average ended down 1 percent, while the S&P 500 shed 0.8 percent. The tech-heavy Nasdaq declined 0.9 percent.


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