Stocks in Asia were higher on Monday after U.S. jobs data released Friday showed an unexpected jump, spurring hopes of an economic recovery from the coronavirus pandemic.
In Tokyo, the Nikkei 225 galloped 314.37 points, or 1.4%, to 23,178.10, as shares of robot maker Fanuc gained 4.01%. Japan Airlines’ stock in Japan gained about 3% while Korean Air Lines in South Korea rose 0.49%.
The Japanese yen traded at 109.44 per U.S. dollar after weakening drastically from levels below 108.5 last week.
The Hang Seng index in Hong Kong squeezed ahead 6.36 points to 24,776.77. Hong Kong-listed shares of China Southern Airlines were up 3.7% in afternoon trade. Cathay Pacific, however, lagged as it fell 1.4%.
Over in Singapore, shares of Singapore Airlines shed earlier gains to drop 1.62% in afternoon trade, with the moves coming after the company announced it had raised more than 10 billion Singapore dollars ($7.18 billion U.S.) in fresh liquidity.
Meanwhile in New Zealand, shares of Air New Zealand skyrocketed 9.15% after the firm announced a target to return to “healthy profits” by late August 2022.
The moves regionally came on the back of Friday’s U.S. jobs print, where the Labor Department said the economy stateside added 2.5 million jobs in May, a record. Economists polled by Dow Jones had forecast a drop of more than eight million.
Australian markets were closed for holiday. The Australian dollar was at $0.697 after rising from levels below $0.68 last week.
CHINA
In Shanghai, the CSI 300 added 20.7 points, or 0.5%, to 4,021.95.
Data released over the weekend showed China’s exports contracting in May as demand continued to be depressed by coronavirus lockdowns globally. Still, the country posted a record trade surplus last month as imports dropped.
The data came as markets in recent days have gotten a boost amid hopes of an economic recovery as lockdown measures to contain the coronavirus pandemic are eased by authorities globally.
In other markets
In Korea, the Kospi inched up 2.42 points, or 0.1%, to 2,184.29
In Taiwan, the Taiex index jumped 130.92 points, or 1.1%, to 11,610.32
In Singapore, the Straits Times Index strengthened 45.47 points, or 1.7%, to 2,796.97.
In New Zealand, the NZX 50 roared ahead 352.5 points, or 3.2%, to 11,524.16
