Asian stocks retreated yesterday as a weaker-than-expected U.S. jobs report signaled more pain ahead for the world's largest economy.Losses across Asia were somewhat tame compared to Wall Street, where markets pulled sharply lower.
"The fundamentals of the economy are still not sound," said Arjuna Mahendran, head of Asian investment strategy at HSBC Private Bank in Singapore. "You're going to see less and less of these green shoots."
Mahendran said equities markets could fall between 15 percent and 20 percent in the coming months.
Japan's Nikkei 225 stock average dropped 129.03, or 1.3 percent, to 9,742.35, and Hong Kong's Hang Seng lost 76.82, or 0.4 percent, to 18,101.23.
In Korea, the Kospi shed 0.2 percent. Australia's benchmark fell 1.4 percent and India's Sensex declined 0.4 percent. China's Shanghai Composite index was flat.
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