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[sludgehound]

Asia (yen), Australia (jobs) down overnight

06-11-14 2241ET
Asian stocks fell on Thursday, with Japan leading the region lower as Tokyo was weighed by a stronger yen, while Australia was weighed by poor employment data.
The Nikkei Share Average was down 0.9%, as the dollar edged lower against the yen--at one point trading below the Yen102 mark at Yen101.98 . The dollar was last at Yen102.08 , compared with Yen102.06 late Wednesday in New York .
The yen started to firm up during Asian trade on Wednesday, after the World Bank reduced its global growth forecast. The negative sentiment carried on in European and U.S. trading, when Wall Street ended the day with a loss, with the dollar losing further ground against the yen. A stronger Japanese currency is generally seen as a headwind for local exporters.
In Australia , the S&P /ASX 200 lost 0.4%, after data showed that the number of people employed in Australia fell by 4,800 in May, well below the consensus forecast for a 10,000 increase. The unemployment rate was 5.8%, slightly lower than an expected 5.9%
The Australian dollar was a touch lower--last at US$0.9377 , compared with US$0.9384 late Wednesday in New York .
Miners in Australia were under pressure as iron ore prices lost further ground, with Rio Tinto 0.8% lower and Fortescue Metals Group down 3.5%.
"Our local benchmark has continually stumbled in recent sessions as the commodity slump piles misery on our miners," said Niall King , a sales trader at CMC Markets .
In China , stocks were lower ahead of a flurry of economic data due Friday--including industrial output figures and retail sales numbers. Hong Kong's Hang Seng Index lost 0.4% and the Shanghai Composite Index was 0.2% lower.
Elsewhere in Asia , South Korea's Kospi was 0.2% lower and Singapore's Straits Times Index was less than 0.1% lower.
Robb Stewart
contributed to this article.
Write to Daniel Inman at [e-mail]
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(END) Dow Jones Newswires
06-11-14 2241ET
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