Investing.com - Technology stocks in Asia fell on Monday in thin
trade with China markets shut for a public holiday and the Nikkei
225 down as the Bank of Japan starts its latest two-day monetary
In corportae action, India's Sun Pharmaceutical Industries Ltd.
(SUN.NS) Ltd. is taking over troubled domestic rival Ranbaxy
Laboratories Ltd. (RANB.NS) Ltd. from its Japanese owner, Daiichi
Sankyo Co., Ltd. (4568.TOK) Co.
Also in Tokyo, sending electronics maker Panasonic Corp.
(6752.TOK). fell more than 3% and semiconductor equipment-maker
Tokyo Electron Ltd. (8035.TOK) Ltd. was also similarly down.
Japan's Nikkei 225 index fell 1.3% in morning trade.
The weak sentiment in Asia followed U.S. stocks last week that
fell after investors ditched technology stocks in a heavy
profit-taking session on Friday.
The Dow 30 ended the session down 0.96%, the S&P 500 fell
1.25%, while the Nasdaq plunged 2.60%.
A correction in the technology sector sent broader stocks
plunging on Friday, as investors jumped to the sidelines to await
earnings releases next week.
Elsewhere, the Department of Labor reported that the U.S.
economy added 192,000 jobs in March, missing expectations for a
200,000 increase. February's figure was revised up to 197,000 from
175,000, while January's figure rose to 144,000 from 129,000.
The private sector added 192,000 jobs last month, below
expectations for a 195,000 rise, while February's figure was
revised up to 188,000 jobs added from a previously estimated
The report also showed that the U.S. unemployment rate remained
unchanged at 6.7% last month compared to expectations for a 6.6%
Investors viewed the data as not-too-hot, not-too-cold, and
focused more on the selloff in the technology sector, which has
boomed in recent years.
After the close of European trade last week, the DJ Euro Stoxx
50 rose 0.64%, France's CAC 40 rose 0.79%, while Germany's DAX rose
0.70%. Meanwhile, in the U.K. the FTSE 100 rose 0.70%.
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