Nikkei stumbles to near 1-month low after U.S. data disappoints

domingo 5 de junio de 2016 22:00 GYT

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By Ayai Tomisawa

TOKYO, June 6 (Reuters) - Japan's Nikkei share average stumbled to a near one-month low on Monday morning as the dollar fell sharply against the yen on disappointing U.S. jobs data, weighing on exporter stocks.

The Nikkei dropped 1.4 percent to 16,404.93 in mid-morning trade, after falling to as low as 16,322.64, the weakest level since May 10.

U.S. nonfarm payrolls rose by just 38,000 last month, the smallest increase since September 2010 and well shy of expectations for a rise of 164,000. All 105 economists polled by Reuters had forecast higher numbers.

"When I first saw that figure, I wondered if it was 138,000, and I later figured that I was adding an extra digit in my head. It was that shocking," said Takuya Takahashi, an equity strategist at Daiwa Securities.

He said that the market is bracing for a further fall leading up to comments from Federal Chair Janet Yellen, who is due to speak on the economic outlook and monetary policy to the World Affairs Council of Philadelphia later in the day.   Continuación...