Asian stocks traded mostly lower on Thursday, adding to steep losses in the previous session as the dollar surged and Treasury yields spiked following a U.S. credit rating downgrade from Fitch and better-than-expected ADP employment data.
Gold held near three-week lows while oil prices were up slightly after settling down about 2 percent in the U.S. trading session overnight.
U.S. private sector employment increased by 324000 jobs in July, well in advance of consensus forecast of 190,000 roles, and annual pay was up 6.2 percent year-over-year, adding to pressure on the Federal Reserve to maintain restrictive policy.
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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.