Asian stocks descend on nonfarm payrolls

Asian stocks descend on nonfarm payrolls

On Friday, stocks in Asia sank, with sentiment linked to American nonfarm payrolls later in the day as well as elections in France at the weekend.

The S&P/ASX 200 edged down 0.40% compensated by Macquarie Bank's 3.58% leap after the bank's full-year revenue beat hopes. As for Australia's resources stocks, they managed to extend losses. For instance, Miner Rio Tinto tumbled 1.56% and crude companies Santos and Woodside declined respectively 2.47% and 2.13%.

The Hang Seng Index inched down 0.26% in Hong Kong, while on the mainland, the Shanghai Composite dived 0.33%.

By the way, Japanese along with South Korean markets were unavailable due to the Children's Day holiday.

Overnight, American stocks stood still, after the House of Representatives dared to pass a bill to repeal and replace Obamacare. Meanwhile, energy stocks declined, following crude, hitting a five-month minimum.

Additionally, energy shares turned to be the key laggards of the days, after oil reached a five-month minimum on the back of worries of a glut in supply.

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