Asia-Pacific markets struggled for gains by Monday afternoon as investors reacted to last week’s U.S. jobs report that trounced expectations and fueled hopes for a faster economic recovery.
The Nikkei 225 dropped 121.07 points, or 0.4%, to 28,743.25, as banking stocks advanced. Mitsubishi UFJ Financial Group shares gained 2.8%, Sumitomo Mitsui Financial Group added 2.1% and Nomura shares were up 3.2%.
Elsewhere, the Japanese yen changed hands at 108.47 per U.S. dollar.
In Hong Kong, the Hang Seng plummeted 557.46 points, or 1.9%, to 28,540.63.
In Australia, major banking and mining stocks mostly rose: Shares of Commonwealth Bank jumped 1% while Rio Tinto added 2.9%, Fortescue was up 0.5% and BHP gained 2.4%.
The Australian dollar reversed earlier gains to trade down 0.13% at $0.7676.
In other markets
In China, the CSI 300 subtracted 182.78 points, or 3.5%, to 5,080.02.
In Taiwan, the Taiex slid 30.15 points, or 1%, to 15,820.11.
In Korea, the Kospi index sank 30.15 points, or 1%, to 2,996.11.
In Singapore, the Straits Times index forged up 57.31 points, or 1.9%, to 3,071.16
In New Zealand, the NZX 50 dipped 95.07 points, or 0.8%, to 12,085.18.
In Australia, the ASX 200 regained 28.73 points, or 0.4%, to 6,739.57.
