DHAKA: Asian stock markets mostly fell on Wednesday, hit by slower United States hiring and reports of tighter money market conditions in China that could check its economic recovery.

Weaker-than-expected US job creation in September was a mixed cue for Asian markets.

On the plus side, it boosted the case for a full-strength continuation of the Federal Reserve’s super-easy monetary policy that has boosted investment in stocks worldwide.

On the downside, it suggests US demand for the region’s exports will continue to be subdued, which could hurt company earnings.

The Labor Department reported that 148,000 jobs were created in September, below the consensus among analysts for around 180,000.

Following revisions to back data, it means that the US economy added an average of 143,000 jobs a month from July through September, down from 182,000 from April through June.

Sentiment in China, Hong Kong and Taiwan was hurt by reports the central bank refrained from injecting funds into money markets, pushing up short-term lending rates, reports The Straits Times.

BDST: 1603 HRS, OCT 23, 2013
RoR/SRS