Investing.com – Asian stocks advanced on Monday, as better-than-expected U.S. employment data helped lift market sentiment and raised fresh hopes over global economic growth.
Hong Kong's Hang Seng Index was up 1.57%; South Korea's Kospi Composite gained 0.70%; and Japan’s Nikkei 225 Index advanced 2.05%.
On Friday, U.S. government data showed that while U.S. nonfarm payroll employment declined by a seasonally adjusted 54,000 in August, private-sector payroll employment continued to trend up modestly adding 67,000 jobs in August.
In Japan, many of the big name Japanese exporters gained on the data, as shares in electronics giant Sony advanced 1.81%, Sharp stocks rose 2.32% and shares in Hitachi Ltd. gained 3.14%.
Stocks in automakers were also among the top beneficiaries of renewed economic hopes, as Honda Motor shares advanced 1.10%, Toyota Motors gained 1.58% and stocks in Nissan Motor rose 2.10%.
In the commodity sector, crude oil prices gained 0.07% to hit USD 74.39 a barrel.
The outlook for European equity markets, meanwhile, was upbeat: EURO STOXX 50 futures indicated a rise of 0.33%, France’s CAC 40 futures pointed to a gain of 0.28% and Germany's DAX futures indicated an increase of 0.25%.
U.S. markets will be closed on Monday due to a bank holiday.
Hong Kong's Hang Seng Index was up 1.57%; South Korea's Kospi Composite gained 0.70%; and Japan’s Nikkei 225 Index advanced 2.05%.
On Friday, U.S. government data showed that while U.S. nonfarm payroll employment declined by a seasonally adjusted 54,000 in August, private-sector payroll employment continued to trend up modestly adding 67,000 jobs in August.
In Japan, many of the big name Japanese exporters gained on the data, as shares in electronics giant Sony advanced 1.81%, Sharp stocks rose 2.32% and shares in Hitachi Ltd. gained 3.14%.
Stocks in automakers were also among the top beneficiaries of renewed economic hopes, as Honda Motor shares advanced 1.10%, Toyota Motors gained 1.58% and stocks in Nissan Motor rose 2.10%.
In the commodity sector, crude oil prices gained 0.07% to hit USD 74.39 a barrel.
The outlook for European equity markets, meanwhile, was upbeat: EURO STOXX 50 futures indicated a rise of 0.33%, France’s CAC 40 futures pointed to a gain of 0.28% and Germany's DAX futures indicated an increase of 0.25%.
U.S. markets will be closed on Monday due to a bank holiday.