Asian stocks fall as traders ease interest rate cut bets

Asian stocks declined on Monday while the dollar was firm after a robust U.S. jobs report has weakened a near-term interest rate cut prospects from the Federal Reserve, Reuters reported on Monday.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.21 per cent having dropped more than one per cent earlier in the session.

Shenzhen component index (SZSE) sank 1.13 per cent and the Shanghai composite index slipped more than one per cent.

The Korea Composite Stock Price Index (KOSPI) decreased 0.92 per cent and the S&P/ASX 200 index, a market-capitalisation, fell 0.95 per cent.