Asian Equities Lower after US Jobs and China Data

Asian equity markets started the week lower following weak economic data from the world’s two largest economies.

The U.S. added 209,000 jobs last month, below expectations for 233,000, while the jobless rate rose to 6.2 percent from 6.1 percent, which saw the S&P 500 post its worst weekly loss since June 2012. But traders say the data reinforced the view that the Federal Reserve won’t hike rates until the second half of next year.

The mood in Asia was also soured after data over the weekend showed growth in China’s services sector hit a six-month low in July as new orders rose at their weakest rate in a year.

CNBC