Asian shares lose steam despite US jobs report

12:43 • 07.12.15
Economy

Asian shares lost some steam on Monday despite a positive start, following a solid jobs report from the US on Friday, the BBC reports.

The US said it added added 211,000 jobs to its economy, which was slightly better than expected.

Analysts said the numbers would make it more likely for the US Federal Reserve to raise its lending rates this year.

Japan's Nikkei 225 was up nearly 1.5% in early trade, but lost some ground later to close up 0.99% at 19,698.15.

Hong Kong's Hang Seng index was up 0.16% in afternoon trade at 22,271.39 while the Shanghai Composite index on the mainland was up 0.34% at 3,536.93 points.

Shares of the Liaoning-based Bank of Jinzhou were down 0.64% in afternoon trade on Monday after the lender made its debut on Hong Kong's stock exchange.

The bank raised close to $800m (£530m) from investors in its initial share offering. It's the second time the lender has tried to list this year. Its first attempt was delayed over concerns about its ties to the controversial solar equipment maker, Hanergy.

In Australia, Sydney's S&P/ASX 200 index closed flat, up just 0.08% at 5,155.70, after being up more than 1% in early trade.

On Monday, Spanish infrastructure firm Ferrovial made an all-cash takeover bid for the Australian detention centre operator Broadspectrum - formerly Transfield Services.

The takeover offer values the firm at 715m Australian dollars ($524m; £347m) and saw Broadspectrum's shares rise more than 50% on the news. They finished up 47.65%.

Elsewhere, after a positive start, South Korea's Kospi index closed down 0.54% at 1,963.67.

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