On Monday, Asian stocks managed to surge, following an upbeat American jobs data report, which unveiled a steady economic recovery in the number one developed country.
Australian S&P/ASX 200 soared 0.5%, Japanese Nikkei Stock Average ended 0.3%, Korean Kospi demonstrated a 0.1% leap, while New Zealand’s NZX-50 closed 0.2%.
Friday’s jobs report disclosed that in March American employers grasped up to 215,000 jobs. The given result was quite in line with expectations, with evident growth in almost every domestically oriented sector. The unemployment rate soared 5%, although it was mostly because more folks joined the labor force.
Most financial analysts consider this US jobs data to be quite neutral. From their point of view the figures didn’t appear to be upbeat enough to power speculation for rapider American rate increases. On the other hand, they failed to boost worries as for the US worsening economy.
Sincere worries regarding the US recession keep receding, thus giving substantial support to Asian stocks.