WELLINGTON: Asian stocks are likely to sag on Monday after a weak U.S. jobs report cooled expectations of improving economic growth and made investors cautious ahead of the earnings season.
The main Wall Street indices snapped their recent rally to end between 0.5 percent and 0.7 percent lower, but still closed stronger for the week.
U.S. non-farm payrolls rose by only 18,000 jobs in June, well below expectations, and at odds with encouraging labour market numbers earlier in the week.
Analysts said attention will now turn to the looming earnings season, with aluminium producer Alcoa Inc leading off on Monday.
Among other companies to report this week are JPMorgan Chase & Co , Citigroup Inc and Google Inc.
Shares of Google slumped 2.7 percent to $531.99 after Morgan Stanley downgraded the Internet giant to "equal-weight," citing margin concerns.
Asian stocks listed on Wall Street fell 0.66 percent, while global stocks as measured by the MSCI world equity index eased 0.64 percent.
British stocks were down 1.1 percent and European ''shares fell 0.8 after the U.S. data.
The U.S. dollar fell on the jobs numbers and is seen trending lower this week as investors also look for progress on the approaching U.S. debt ceiling deadline, which, if unresolved, could see the U.S. government run out of cash on Aug. 2.
Japanese markets, which hit a four-month high on Friday, may sag and slow the recovery of the market back to pre-quake levels. Nikkei futures traded in Chicago were 90 points below the last closing level in Osaka.
Australian stocks are seen opening lower on the U.S. jobs numbers and some caution following the unveiling of the government's carbon tax plan. Share price index futures are down 0.9 percent to a 54.7 point discount to the underlying S&P/ASX 200 index. ' Reuters
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The main Wall Street indices snapped their recent rally to end between 0.5 percent and 0.7 percent lower, but still closed stronger for the week.
U.S. non-farm payrolls rose by only 18,000 jobs in June, well below expectations, and at odds with encouraging labour market numbers earlier in the week.
Analysts said attention will now turn to the looming earnings season, with aluminium producer Alcoa Inc leading off on Monday.
Among other companies to report this week are JPMorgan Chase & Co , Citigroup Inc and Google Inc.
Shares of Google slumped 2.7 percent to $531.99 after Morgan Stanley downgraded the Internet giant to "equal-weight," citing margin concerns.
Asian stocks listed on Wall Street fell 0.66 percent, while global stocks as measured by the MSCI world equity index eased 0.64 percent.
British stocks were down 1.1 percent and European ''shares fell 0.8 after the U.S. data.
The U.S. dollar fell on the jobs numbers and is seen trending lower this week as investors also look for progress on the approaching U.S. debt ceiling deadline, which, if unresolved, could see the U.S. government run out of cash on Aug. 2.
Japanese markets, which hit a four-month high on Friday, may sag and slow the recovery of the market back to pre-quake levels. Nikkei futures traded in Chicago were 90 points below the last closing level in Osaka.
Australian stocks are seen opening lower on the U.S. jobs numbers and some caution following the unveiling of the government's carbon tax plan. Share price index futures are down 0.9 percent to a 54.7 point discount to the underlying S&P/ASX 200 index. ' Reuters
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