Asia stocks mixed ahead of U.S. jobs data; Hong Kong shares drop 3%

Asia stocks showed mixed performance as markets anticipated upcoming U.S. jobs data. Hong Kong shares experienced a significant slump, dropping 3% and marking their steepest decline since March. This downturn led losses across Asia following a holiday break. The decline was primarily driven by a surge in US yields and investor disappointment regarding China’s latest stimulus measures, which pressured the Hong Kong stock benchmark and contributed to the overall volatility seen in the regional markets.