Asian stocks declined on Friday after Wall Street's main indexes fell sharply overnight on fears of more interest rate hike by the Federal Reserve.
U.S. private-sector payrolls expanded by 497000 in June, according to the payroll-services firm ADP, coming in well ahead of the downwardly revised 267,000 gain in May and the 220,000 consensus estimate.
The U.S. services sector also grew faster than expected in June, raising fears of more interest rate hikes ahead by the Federal Reserve to keep inflation under control.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.