Asian shares rose, with the regional benchmark index heading for its longest winning streak in almost three months, after a weaker-than-expected U.S. jobs report reduced the case for the Federal Reserve to raise interest rates.
The MSCI Asia Pacific Index climbed 0.4 percent to 126.92 as of 9:01 a.m. in Tokyo, advancing for a fourth day. U.S. employers added 142,000 jobs in September, less than the lowest estimate of 96 economists surveyed by Bloomberg, figures from the Labor Department showed Friday. The report increased the likelihood that near-zero interest rates will persist into next year, keeping in place the stimulus that has underpinned the world’s biggest economy.
E-mini futures on the Standard & Poor’s 500 Index slipped 0.2 percent. The underlying measure jumped 1.4 percent on Friday, wiping out an earlier drop of as much as 1.6 percent in its biggest intraday rebound since October 2011.
Japan’s Topix index rose 0.9 percent, and South Korea’s Kospi index increased 0.7 percent. Australia’s S&P/ASX 200 Index jumped 1.8 percent as commodity shares led gains. New Zealand’s NZX 50 Index added 0.6 percent. Hong Kong’s equity market is yet to open, while those in mainland China remain closed for a holiday.
Source : Bloomberg