Asian stocks rose fell as investors awaited a monthly government report on U.S. jobs to gauge the strength of the world’s largest economy.
The MSCI Asia Pacific Index dropped 0.4 percent to 125.26 as of 9:00 a.m. in Tokyo. Economists expect U.S. employers to have added about 201,000 workers in September after a gain of 173,000 in August. The data will factor into the Federal Reserve’s next rate decision, due Oct. 28, as the central bank also weighs global financial-market turmoil.
The regional benchmark index’s drop Friday trimmed its advance this week to 0.2 percent with mainland Chinese markets currently shut for a week-long holiday.
Japan’s Topix index retreated 0.6 percent. Bank of Japan officials see little need for an immediate expansion of monetary stimulus and would prefer to hold off to get a clearer picture of the economic outlook, according to people familiar with their deliberations.
Board members who gather for a policy meeting Oct. 6-7 want the opportunity to observe further economic data and developments in financial markets at home and abroad, according to the people, who asked not to be named because talks are private.