Monday Apr 09, 201205:00 PM GMT
Asian stocks drop over weak economic US jobs data
Asian markets drop
Mon Apr 9, 2012 4:59PM
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Asian markets have dropped after the release of poor economic data showing slowed hiring in the US and rising inflation in China.

MSCI Asia Pacific Index also fell by 0.6 percent to 124.16 later in the day in Tokyo. Around seven stocks fell for each that jumped.

South Korea’s Kospi Index fell 1.6 percent, while Shanghai Composite also slid by one percent. Singapore and Kuala Lumpur markets shed less than one percent as well.

Taiwan’s HTC Corp. also tumbled 6.8 percent. India's Sensex shed 1.2 percent to 17,278.4.

Tokyo’s Toyota Motor Corp (7203) dropped by 2.4 percent after US payrolls fell to its lowest in five months, while the yen rose against the dollar.

Markets in Hong Kong, Manila, Sydney, Wellington and Bangkok were closed for public holidays.

According to the US Labor Department, Washington added 12,000 jobs last month. This figure is half the number of jobs created from December to February.

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