Asian Stocks Mixed on Conflicting U.S. Economic Data

Asian stock markets were mixed in early trading Monday as a disappointing U.S. jobs report sparked worries that a recovery in the world’s largest economy is losing steam.

Japan’s benchmark Nikkei 225 stock index added 34.30 points, or 0.4 percent, to 9,238.01 in the morning session.

South Korea’s Kospi increased 2.52 points, or 0.2 percent, to 1,674.34, and Australia’s S&P/ASX 200 was up 0.2 percent at 4,274.00.

Elsewhere, Hong Kong’s Hang Seng index fell 0.5 percent to 19,809.06 and the Shanghai Composite Index declined 1.2 percent at 2,353.43. Markets in Taiwan and New Zealand edged up in early trading.

Most investors stayed on the sidelines in Asia as the U.S. financial markets are closed Monday due to a public holiday.

Investors in Asia were also reluctant to chase gains after the Dow Jones industrial average fell 46.05 points, or 0.5 percent, to 9,686.48 Friday, the seventh-straight day of decline.

It was also the longest losing streak since the height of the financial crisis in October 2008. Sentiment turned downbeat on Wall Street after the U.S. government said Friday private employers added only 83,000 jobs last month, fewer than the 112,000 analysts had forecast.

In currencies, the dollar rose to 87.80 yen from 87.70 yen in New York late Friday. The euro declined to $1.2530 from $1.2556.

Benchmark crude for August delivery lost 81 cents to settle at $72.14 a barrel Friday on the New York Mercantile Exchange.

TOKYO (AP)