HONG KONG &S212; Asian stock markets fell on Thursday as worries about the global economic recovery had investors eagerly awaiting the U.S. monthly jobs report that is due on Friday.

The Nikkei 225 stock average in Tokyo lost 1.2 percent with Canon and other exporters slipping as investors, prompted by a slightly stronger yen, locked in profits before the release of U.S. jobs data.

But Nissan Motor rose 1.1 percent after the automaker revised its annual outlook to a profit from a loss on Wednesday as soaring sales in China helped drive quarterly earnings beyond market expectations.

The benchmark Nikkei lost 113.63 points to 9,730.68 in late morning trading and appeared headed for its lowest close in a month. The broader Topix shed 0.7 percent to 874.78.

As expected, the Federal Reserve reiterated its intent to keep U.S. interest rates low on Wednesday. Though Wall Street rallied in response, it soon lost steam, with investors turning their eyes to jobs data to be published Friday.

&S220;A lot of investors are likely to be stay on the sidelines ahead of the jobs data, given that the September figures were worse than expected, and this is likely to keep stocks weak until then,&S221; said Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Securities.

Seoul shares turned lower after a brief rebound the day before, weighed down by caution over the pace of an economic recovery and as the firmer won hammered exporters like LG Electronics.

Investors are on the lookout for fresh economic data to restore confidence in stocks as they awaited the U.S. monthly jobs data and the Bank of Korea&S217;s monthly rate-setting meeting next week online pay day loans.

&S220;Investors are looking at the first batch of fourth-quarter indicators now that we are unsure about whether markets will remain solid in November or not,&S221; said Kim Seung-han, a market analyst at HI Investment & Securities.

The Korea Composite Stock Price Index dropped 1.1 percent to 1,563.07 points.

Shares in LG Electronics, the maker of mobile phones and flat-screen TVs, dropped 2.3 percent. Samsung Electronics shed 1.6 percent, after it told the Korea Exchange that it would make a $1.3 billion down payment to Qualcomm under a new licensing agreement.

Australian shares extended losses to be 0.5 percent lower on Thursday, with banks and miners mixed amid a market consolidation after strong gains between March and October.

The benchmark S&P/ASX 200 index fell 20.8 points to 4,519.3.

Major sectors like banks and miners saw mixed fortunes as the market continues its broad consolidation after posting strong gains between March and October.

Hong Kong stocks fell 0.4 percent, tracking losses in other Asian markets, although the Chinese property developer Evergrande Real Estate rose in its trading debut. Evergrande traded at 4 Hong Kong dollars versus its IPO price 3.50 dollars.

Shanghai stock markets rose 0.3 percent. The Taiex in Taipei edged up 0.07 percent amid concerns over shrinking trade volumes, but computer memory chip makers like Nanya Tech surged on positive October sales and an upbeat fourth-quarter outlook.

Reuters

Stock Markets Drop in Asia