Asian stocks fluctuated after a U.S. labor report bolstered prospects of an interest-rate increase this year and Chinese export data added to headwinds facing the world’s second-largest economy. Japan’s Topix index climbed after the yen weakened.
The MSCI Asia Pacific Index added 0.2 percent to 133.91 as of 9:05 a.m. in Tokyo, swinging from a loss of 0.3 percent. The Topix added 1.1 percent after the yen slid 1.1 percent against the dollar on Friday. Data showed a 271,000 gain in U.S. payrolls in October, the biggest this year and exceeding all estimates in a Bloomberg survey of economists. Odds on the Federal Reserve hiking benchmark rate at its next meeting in December jumped to 68 percent. China’s exports fell for a fourth straight month and imports matched a record stretch of declines, figures released Sunday showed.
Source : Bloomberg