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Asian markets step back despite US service gains

August 5, 2013 • Business


An investor looks at the stock price monitor at a private securities company in Shanghai, China, Monday, Aug. 5, 2013. Asian stock markets sagged Monday after a disappointing U.S. jobs report sparked worries about the health of the world’s biggest economy. (AP Photo)

BANGKOK (AP) — Asian stock markets sank Tuesday despite an upbeat report on U.S. service industries that are the main driver of growth in the world’s No. 1 economy.

Confidence dimmed even though the Institute for Supply Management said U.S. services activity expanded in July at the fastest pace in five months. Its index rose to 56 points from 52.2 in June, the highest reading Login to read more

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