© Reuters. FILE PHOTO: Road signs are reflected on an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan, July 28, 2023. REUTERS/Kim Kyung-Hoon
By Stella Qiu
SYDNEY (Reuters) -Asian shares fell with Wall Street on Thursday, while a sharp fall in oil prices to a five-month low promised to further reduce inflationary pressures and helped boost the global bond market.
There was also a soft reading on the U.S. labour market overnight. Analysts note the ADP private payrolls report is historically not a very reliable predictor of the official non-farm payroll report due on Friday, making the weekly jobless claims later in the day more important.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9%, having been down 2.0% so far this month after a 7.3% rally in November. fell 1.6%, led by declines in energy and tech stocks.
Sentiment about China remained bearish. Chinese trade data showed on Thursday exports unexpectedly rose in November, but imports posted a surprising fall, suggesting domestic demand remains shaky. That followed a cut from rating agency Moody’s (NYSE:) on the Asian giant’s credit outlook a day earlier.
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