Asian stock markets mixed despite jump in US jobs
Asian stock markets mixed after US musters only tiny gains despite strong jobs report
TOKYO (AP) -- Asian stock markets were mixed Monday as investors took a pause after last week's big gains with losses tempered by a surprise jump in U.S. employment.
Japan's Nikkei 225 stock average was up 96.67 points, or 1 percent, at 9,722.66 while South Korea's Kospi was off 0.4 percent at 1,931.34.
Hong Kong's Hang Seng shed less than 0.1 percent to 24,870.30 and China's Shanghai Composite Index added 0.4 percent to 3,141.38. Australia's S&P/ASX 200 slipped 0.3 percent to 4,786.10.
Elsewhere, markets in Singapore and Indonesia rose while Taiwan's benchmark fell.
Global stocks and commodities rallied last week after the U.S. Federal Reserve on Wednesday announced it would sink $600 billion into buying Treasurys over the next eight months to stimulate the sluggish economy by lowering long-term interest rates.
But the rally ran out steam by Friday in the U.S. with shares in New York squeezing out only narrow gains despite a surprisingly positive jobs report.
The Labor Department said employers added 151,000 jobs in October, the first gain since May and far more than analysts had anticipated.
Even with the surge, the U.S. national employment rate remained at 9.6 percent for the third straight month, and shares ended barely higher.
The Dow closed up 9.24, or 0.1 percent, at 11,444.08. The broader Standard & Poor's 500 index edged up 4.79, or 0.4 percent, to 1,225.85, and the Nasdaq composite index edged up 1.64, or 0.1 percent, to 2,578.98.
In currencies, the dollar fell to 81.16 yen Monday from 81.25 yen in New York late Friday. The euro fell to $1.3961 from $1.4031.
Benchmark oil for December delivery was up 3 cents at $86.88 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 36 cents to settle at $86.85 on Friday.
(This version CORRECTS Corrects oil settle price in last paragraph to $86.85.)
No comments :
Post a Comment