The Asian markets have started the week in the red due to the dismal U.S. jobs report and a spike in Chinese inflation stoked investor caution.
The top losers in the morning trades were Taiwan Weighted, Seoul Composite,Straits Times and Hang Seng all down nearly 1% each. In the Hong Kong markets financials and energy shares were the major draggers.
The least affected in today's downturn was the Shanghai Composite losing just 0.2%. China’s consumer prices zoomed to a three-year high in June as food prices soared, according to data released Saturday, reaffirming expectations that Beijing won’t be in a hurry to relax its tightening monetary-policy bias.
Nikkei is down nearly 0.5%. The jobs report pushed the dollar lower against the yen, hurting exporters and auto-maker shares is leading the losses.
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