Home Economy Asian stocks looking to recover US economy | Associated Press

Asian stocks looking to recover US economy | Associated Press

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Singapore (AP) — Asian stocks were mixed on Thursday as traders awaited further guidance on the US economic recovery.

The Nikkei 225 in Tokyo rose 0.3% to 27,678.79, and the Kospi in South Korea fell 0.1% to 3,278.13. Hong Kong’s Hang Seng Index was up 0.2% to 26,466.58.

The Shanghai Composite Index fell 0.1% to 3,472.87. Sydney’s S & P / ASX 200 was up 0.2% to 7,516.30. Stock prices fell in Singapore, but rose in Malaysia and Indonesia.

Employment was in the limelight. On Wednesday, payroll firm ADP revealed that the US private sector added 330,000 jobs in July, which was lower than analysts expected.

The US Department of Labor will release a more comprehensive employment report on Friday. According to FactSet, economists predict that US employers will add 700,000 jobs in July, reducing the national unemployment rate from 5.9% to 5.7%.

IG’s Yeap Jun Rong said the ADP report was “significantly disappointing.”

“Although there is no clear…

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