Asian Market Update : Epic Research Malaysia

Asian stocks slipped and the dollar stood at a 7-month high against its peers early on Monday after robust US jobs data bolstered expectations of a Federal Reserve interest rate hike in December.

Data on Friday showed nonfarm payrolls increased 271,000 in October, the largest gain since last December. The unemployment rate fell to 5.0 per cent, the lowest since April 2008.

Prospects of the Fed hiking rates for the first time in almost a decade and ending seven years of easy monetary policy, which have pump-primed global markets with flush liquidity, weighed on riskier assets.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.5 per cent, while Australian shares lost 0.7 per cent. The Nikkei bucked the trend and gained 1.1 per cent after the yen weakened significantly against the dollar.

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