Asian stocks mostly fall after U.S. stocks rose to more records Friday boosted by a highly anticipated report on the job market
Asian stocks mostly fell Monday, with the Euro dropping on the shock French election outcome, while U.S. stocks rose to more records Friday boosted by a highly anticipated report on the job market.
U.S. futures and oil prices decline.
The euro climbed above $1.08, while the gains were tempered by the surprising results of the French parliamentary elections.
The left-wing New Popular Front has won the most seats in the 2024 French legislative election, beating back a far-right surge but failing to win a majority. The result leaves France facing the stunning prospect of a hung parliament and worries of political and policy uncertainty.
The currency fell to $1.0829 from $1.0836 in morning trading.
In Tokyo, the Nikkei 225 index was up 0.2% to 40,999.80 despite official data showing the real wages fell 1.4% year on year in May, a decline for the 26th straight month as the weakening yen and higher commodity costs pushed up the cost of imports. While the nominal wages rose 1.9%.
Hong Kong’s Hang Seng index declined 1.3% to 17,571.31 and the Shanghai Composite index was down 0.
