Asia report: Markets boosted by US jobs numbers
Markets in Asia finished higher on Monday, following a solid sesion on Wall Street on Friday which was fuelled by a better-than-expectations jobs report stateside.
AUD/USD
$0.6399
03:14 19/04/24
GBP/NZD
NZD2.1112
03:14 19/04/24
Hang Seng
16,385.87
10:20 18/04/24
Nikkei 225
37,319.83
09:44 18/04/24
USD/JPY
¥154.4255
03:14 19/04/24
In Japan, the Nikkei 225 was up 1.37% at 22,475.94, as the yen strengthened 0.1% against the dollar to last trade at JPY 109.43.
The broader Topix was up 1.46%, with carmakers and shipping firms leading gains in Tokyo.
On the mainland, the Shanghai Composite added 0.52% to 3,091.19, and the smaller, technology-heavy Shenzhen Composite eked out gains of 0.09% to 1,747.96.
South Korea’s Kospi rose 0.36% to 2,447.76, while the Hang Seng Index in Hong Kong finished 1.66% above the waterline at 30,997.98.
Computing giant Lenovo was dropped from the Hong Kong benchmark on Monday, replaced by China-based drugmaker CSPC Pharmaceutical Group.
Sentiment was pushed higher early in the session by Friday’s solid jobs report in the US, with the country’s economy adding 223,000 positions in May.
That was well above the 188,000 predicted in a Reuters-polled forecast.
“The data highlight the fundamental strength of the U.S. economy, despite the geopolitical malaise and trade uncertainties,” noted analysts at ANZ.
They added that a rate hike from the Federal Reserve in June was practically a certainty at this point.
Later in the session, however, trade concerns began to creep in again, after talks between Washington and Beijing failed to deliver any major developments.
China reportedly threatened that previous agreements between itself and the US would not be implemented if the White House went forward with a planned increase in tariffs.
Oil prices were lower, with Brent crude off 1.03% at $76.01 per barrel and West Texas Intermediate down 0.6% at $65.42.
In Australia, the S&P/ASX 200 was up 0.59% at 6,025.50, while New Zealand markets were closed for the Queen’s Birthday public holiday.
Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 1.26% at AUD 1.3046, and the Kiwi advancing 0.91% to NZD 1.4190.