Asian stocks rose
after a U.S. employment report boosted optimism in the world’s largest
economy, with Japanese shares climbing as a weaker yen sent exporters
higher.
The MSCI Asia Pacific
Index advanced 0.4 percent to 132.62 as of 9:00 a.m. in Tokyo. The
Standard & Poor’s 500 Index rose the most in almost three months on
Friday, while the yen weakened 0.4 percent against the dollar after the
bigger-than-expected increase in American nonfarm payrolls. Japan’s
Topix index added 0.9 percent on Monday. The data supports the case for
the Federal Reserve lifting interest rates next week, according to Shane
Oliver, head of investment strategy in Sydney at AMP Capital Investors
Ltd., which oversees about $115 billion.
South Korea’s Kospi
index rose 0.7 percent. Australia’s S&P/ASX 200 Index added 1.2
percent and New Zealand’s S&P/NZX 50 Index advanced 0.2 percent.
Source: Bloomberg
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