ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Nikkei Markets

Asian stocks fall to end three-day winning streak ahead of key US jobs data

Hong Kong listed Macau casino operators, Sembcorp decline

HONG KONG (Nikkei Markets) -- Asian shares outside of Japan fell Friday to end a three-day winning streak as investors assessed the latest updates on the virus epidemic and awaited a key U.S. jobs report.

The Nikkei Asia300 index of companies outside Japan declined 0.8% to 1,361.64 after having climbed 4.8% in the previous three sessions.

Chinese heath authorities on Friday reported 70 new deaths and more than 3,000 new cases from the coronavirus bringing the total number of deaths to 636 and infected cases to 31,161. Most of the deaths have been reported in the Hubei province, the epicenter of the outbreak. Meanwhile, Japan said earlier in the day that the number of cases on a quarantined cruise ship had climbed to 61.

U.S. equity index futures declined ahead of the U.S. monthly jobs report. Economists polled by Reuters estimate that U.S. employers added 160,000 jobs last month, up from 145,000 in December. Average earnings growth is pegged at 0.3% month-on-month and the unemployment rate at 3.5%.

ING Bank said that while sustained jobs growth and benign wage pressures indicate stable U.S. interest rates, risks remain skewed toward policy action in light of the worries over the coronavirus.

On the A300 gauge on Friday, Hong Kong-shares of property developer China Overseas Land & Investment fell 1.8% following an 18% drop in last month's contracted sales.

An index of Chinese companies listed in Hong Kong slipped 0.6%. Heavyweight Tencent Holdings rose 0.6%.

Sembcorp Industries tumbled 6% after the Singaporean conglomerate reportedly said that its fourth-quarter results will include impairment charges totaling S$245 million ($177 million)

NMDC fell 2.3% after the Indian iron ore miner reported a 13% fall in third-quarter net profit.

Hong Kong listed Macau casino operators slipped after Wynn Macau reporting a 2.3% decline in fourth-quarter net profit. Shares of Wynn Macau fell 1.2%, and Galaxy Entertainment Group dropped 0.5%.

SK Telecom lost 0.2% after the South Korean company reported an 8% fall in last year's operating profit.

-- Nimesh Vora

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media