Asian shares mostly fell on Monday, tracking the sell-off on Wall Street and as assurances from Chinese authorities failed to alleviate the wild swings in the country`s equity markets.
Major U.S. indexes finished more than 1 percent lower last Friday, after the nonfarm payrolls report showed that 173,000 jobs were created in August, missing expectations of 220,000 and heightening uncertainty over the timing of a Federal Reserve rate rise.
The number had some analysts suggesting that the U.S. central bank might wait until later in the year to raise interest rates, but traders appear to be betting on a rate-rise at next week`s Federal Open Market Committee (FOMC) meeting.
"Clarity is what the world wants and clarity was clearly what we didn`t get in Friday`s payrolls. The fact the two-year treasury yield was largely unchanged at 70 basis points highlights that the script didn`t change," IG`s chief market strategist Chris Weston wrote in a note on Monday.U.S. stock markets will be closed Monday for the Labor Day holiday.
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