Asian stocks markets cheered by US jobs report
Source: AP
By YURI KAGEYAMA
TOKYO (AP) — Asian stock markets were cheered Monday by a healthy U.S. jobs report that sent the S&P 500 to its biggest gain since early September.
KEEPING SCORE: Japan's Nikkei 225 jumped 1.5 percent to 19,796.65 and Australia's S&P/ASX 200 rose 0.3 percent to 5,164.80. South Korea's Kospi added 0.1 percent to 1,975.63. Hong Kong's Hang Seng was up 0.3 percent at 22,312.51 and China's Shanghai Composite gained 0.4 percent to 3,537.10. Stock benchmarks also rose in Taiwan, Singapore, Indonesia and the Philippines.
U.S. JOBS: The Labor Department reported that employers added 211,000 jobs in November. That was more than investors expected, and a sign that consumers are still spending and keeping the American economy afloat even as manufacturing and energy companies struggle. The data cements expectations that the Federal Reserve will raise interest rates from a record low at its policy meeting next week. Low interest rates have been a boon for stock markets for several years, but investors also welcome increased certainty about the Fed's likely actions after months of guesswork and anxiety.
WALL STREET: The Dow Jones industrial average rose 369.96 points, or 2.1 percent, to end Friday at 17,847.63. The Standard & Poor's 500 had its best day since Sept. 8, rising 42.07 points, or 2.1 percent, to 2,091.69. The Nasdaq composite increased 104.74 points, or 2.1 percent, to 5,142.27 points.
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