Asian markets kicked-off the week on a stronger note, tracking Friday’s
Wall Street rally after upbeat US NFP data buoyed market sentiment.
The US NFP report showed that 211k new jobs were created last month, beating expectations of a 200k print. The stronger payrolls data bolstered the case for a Fed rate hike next week.
Nikkei- bounces-back sharply
The Japanese markets rebounded sharply higher on Monday as the ongoing weakness in the yen lifted the exporters and auto sector stocks. USD/JPY trades 0.14% higher at 123.30 while the Japanese benchmark index, the Nikkei rockets 1.50% at 19,800.
The Australian stocks also mirror the gains in its Asian counterparts, although the upside remains limited on the back of lower energy stocks after oil prices dropped almost 3% last week. The benchmark S&P/ASX gains 0.25% to 5,164.
The Chinese indices are seen posting moderate gains, with the benchmark Shanghai Composite (SSEC) advancing 0.41% to 3,539. China’s A50 index erases loses and trades muted around 10,500 points. While Hong Kong’s, the Hang Seng rises 0.34% to 22,313.
The US NFP report showed that 211k new jobs were created last month, beating expectations of a 200k print. The stronger payrolls data bolstered the case for a Fed rate hike next week.
Nikkei- bounces-back sharply
The Japanese markets rebounded sharply higher on Monday as the ongoing weakness in the yen lifted the exporters and auto sector stocks. USD/JPY trades 0.14% higher at 123.30 while the Japanese benchmark index, the Nikkei rockets 1.50% at 19,800.
The Australian stocks also mirror the gains in its Asian counterparts, although the upside remains limited on the back of lower energy stocks after oil prices dropped almost 3% last week. The benchmark S&P/ASX gains 0.25% to 5,164.
The Chinese indices are seen posting moderate gains, with the benchmark Shanghai Composite (SSEC) advancing 0.41% to 3,539. China’s A50 index erases loses and trades muted around 10,500 points. While Hong Kong’s, the Hang Seng rises 0.34% to 22,313.
