Business

Asian markets climb after positive US jobs data

The Jakarta Post, Jakarta | Mon, 09/06/2010 8:52 AM
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Stocks in Asia nudged higher in early trade Monday, after shares in the U.S. rose last week on the back of strong jobs data.

Japan's benchmark Nikkei 225 stock index was up 1.1 percent, or 96.79 points, at 9211.82. South Korea's Kospi rose 0.4 percent, or 7.49 points, at 1787.39. Shares in New Zealand and Singapore also were higher.

The gains came after a solid performance in the U.S. on Friday, when a government report on employment beat expectations and encouraged investors.

The Dow Jones industrial average jumped 1.2 percent, or 127.83 points, to close at 10,447.93. The broader Standard & Poor's 500 Index rose 1.3 percent, or 14.41 points, to 1,104.51.

Data from the U.S. Labor Department showed new jobs in August at private employers beat forecasts, though they were still below what economists say is a ealthy level for the economy.

In currencies, the dollar was nearly unchanged from late Friday at 84.36 yen versus 84.37 yen. The euro fell slightly, to $1.2878 from $1.2886.

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