Asian stocks ended mostly lower on Thursday, extending losses from the previous session, as investors fretted about mounting debt in the U.S. and awaited cues from Friday’s U.S. jobs report.<\/p>\n
Chinese shares rose on late buying after a private survey showed services sector activity in the country expanded at a stronger pace in July compared to June.<\/p>\n
The benchmark Shanghai Composite Index climbed 0.6 percent to 3,280.46 despite Morgan Stanley reducing its rating on Chinese stocks. Hong Kong’s Hang Seng Index ended 0.5 percent lower at 19,420.87.<\/p>\n
Japanese shares tumbled and the 10-year Japanese government yield hit its highest level in over nine years, as strong private sector payrolls data released overnight spurred fresh concerns about the outlook for U.S. interest rates.<\/p>\n
The Nikkei 225 Index slumped 1.7 percent to 32,159.28, while the broader Topix Index settled 1.5 percent lower at 2,268.35.<\/p>\n
Heavyweight semiconductor stocks led loses, with Advantest, Tokyo Electron and Screen Holdings falling between 1.1 percent and 2.7 percent. Marine transportation firm Kawasaki Kisen jumped 4 percent on share buyback news.<\/p>\n
Seoul stocks declined amid selling by foreign and institutional investors. The Kospi Average dropped 0.4 percent to 2,605.39.<\/p>\n
Australian markets<\/span> fell after a slew of data showed activity in the country’s services sector contracted in July, retail sales volumes recorded a third consecutive quarterly fall in the second quarter and the trade surplus remained steady in June.<\/p>\n