The dollar stood
firm in Asia on Thursday and bond yields spiked after super-strong U.S.
jobs data made a rate hike a near certainty, while oil struggled to find
its footing after U.S. stockpiles swelled past all expectations.
With
energy stocks on the run, MSCI's broadest index of Asia-Pacific shares
outside Japan .MIAPJ0000PUS slipped 0.9 percent. Australia's main index
eased 0.4 percent, while its resource sector fell more than 2 percent.
Spread betters pointed to opening losses for European bourses, while the E-mini contract for the S&P 500 ESc1 dipped a slim 0.03 percent.
Bucking the trend, Japan's export-heavy Nikkei .N225 managed to take heart from a softer yen and added 0.3 percent.
Economic data out of China continued to surprise with consumer inflation coming in well under expectations at an annual 0.8 percent, largely due to falling food prices.
Yet producer prices still rose at the fastest pace since 2008, keeping alive hopes that China had stopped exporting disinflation to the rest of the world.
That inflationary pulse was timely given oil prices dived 5 percent on Wednesday to the lowest this year as U.S. crude inventories ballooned to a record.
The market did pare a little of the losses on Thursday with U.S. crude CLc1 up 30 cents at $50.58, while Brent crude LCOc1 bounced 43 cents to $53.54 a barrel.
Wall Street had been sideswiped by the retreat in oil, with energy stocks .SPNY losing 2.5 percent in their worst performance since mid-September.
The Dow .DJI fell 0.33 percent, while the S&P 500 .SPX lost 0.23 percent and the Nasdaq .IXIC added 0.06 percent.
Spread betters pointed to opening losses for European bourses, while the E-mini contract for the S&P 500 ESc1 dipped a slim 0.03 percent.
Bucking the trend, Japan's export-heavy Nikkei .N225 managed to take heart from a softer yen and added 0.3 percent.
Economic data out of China continued to surprise with consumer inflation coming in well under expectations at an annual 0.8 percent, largely due to falling food prices.
Yet producer prices still rose at the fastest pace since 2008, keeping alive hopes that China had stopped exporting disinflation to the rest of the world.
That inflationary pulse was timely given oil prices dived 5 percent on Wednesday to the lowest this year as U.S. crude inventories ballooned to a record.
The market did pare a little of the losses on Thursday with U.S. crude CLc1 up 30 cents at $50.58, while Brent crude LCOc1 bounced 43 cents to $53.54 a barrel.
Wall Street had been sideswiped by the retreat in oil, with energy stocks .SPNY losing 2.5 percent in their worst performance since mid-September.
The Dow .DJI fell 0.33 percent, while the S&P 500 .SPX lost 0.23 percent and the Nasdaq .IXIC added 0.06 percent.
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