China's shares opened lower and banks shares pressured
Australia, while stock markets elsewhere in the region rose ahead
of a key jobs report in the U.S. later this week.
The Shanghai Composite Index is down 1.6% at 3635.86 and the
smaller Shenzhen Composite fell 1.8% to 2089.65. The small-cap
ChiNext board is 2.1% lower at 2449.44.
The losses come as investors continue to assess the level of
regulators commitment to support of mainland stocks.
Australia's S&P ASX 200 was down 0.7% as the country's
biggest banks take steps to raise billions of dollars to meet
regulatory demands to bolster capital holdings against the risk of
possible crises.
Australia & New Zealand Banking Group Ltd. announced
Thursday plans to raise 3 billion Australian dollars (US$2.2
billion) as it reported a strong rise in quarterly profit. A day
earlier, Westpac Banking Corp. increased the size of a
hybrid-securities offering by A$500 million to A$1.25 billion.
Shares of each were down 1.6% and 4% respectively.
A fall in oil also is hurting Australian energy firms after
light, sweet crude prices fell to multi-month lows overnight.
Weekly inventory data showed a small increase in U.S. crude
production and President Barack Obama urged lawmakers to support
the Iranian nuclear deal.
Brent was up last 0.3% at $49.76 in Asia trade, although it slid
to as low as $49.65 overnight.
Shares of Rio Tinto Ltd. rose 0.6% ahead of the firm's first
half earnings after the Australian market closes today. Underlying
profit is forecast at US$2.42 billion, based on the median of seven
analysts' forecasts compiled by The Wall Street Journal. That's
roughly half a year-earlier profit of US$5.12 billion amid a
deepening commodities slowdown.
Elsewhere, the Nikkei Stock Average was up 0.8%, helped by a
weaker yen, and South Korea's Kospi gained 0.3%.
Investors await U.S. jobs data on Friday, which could color
expectations that the Federal Reserve will raise interest rates
next month.
The U.S. dollar traded at ¥ 124.81 from ¥ 124.88 at the close
yesterday. The yen has been weakening ahead of U.S. nonfarm
payrolls data Friday.
"Yen selling and futures buying is likely to continue for the
short-term until this week's U.S. jobs data is completely
digested," said Norihiro Fujito, senior investment strategist at
Mitsubishi UFJ Morgan Stanley Securities.
But the U.S. dollar remains stronger against a number of Asian
currencies. It rose to as high as 3.8850 Malaysian ringgit for the
currency to mark a new 17-year low. The dollar was at 3.8761 at
Wednesday's close Asia.
Write to Chao Deng at Chao.Deng@wsj.com
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