Economic news

Asia shares climb, focus turns to earnings season

Asian stocks gained on Monday as fresh U.S. employment figures whetted risk appetites, while investors turned their attention to the upcoming earnings season.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares jumped 1.3 percent. Japan’s Nikkei soared 1.2 percent as the yen dipped versus its U.S. counterpart.

Hong Kong’s Hang Seng Index surged 1.4 percent after its first four-week losing streak since November 2016 and the Shanghai Composite added 1.5 percent.

Australian shares edged up 0.2 percent following Friday’s latest 10½-year closing peak.

In commodity markets, crude prices moved higher as the greenback weakened. U.S. WTI futures rose 35 cents to $74.15 per barrel, while Brent advanced 52 cents to $77.63 per barrel.

Gold climbed 0.5 percent to $1,260.20 an ounce.

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