Economic news

Asia stocks jump following U.S. employment report

Asian shares climbed on Monday after the fresh U.S. jobs figures improved the sentiment and also eased concerns over inflation and faster rate increases.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.3 percent, set for a third day of rise.

Japan’s Nikkei leaped 1.2 percent. Australian stocks advanced 0.6 percent.

South Korea's Kospi index soared 1 percent.

Hong Kong’s Hang Seng Index rose 1.5 percent. The Shanghai Composite Index ticked up 0.6 percent.

Inflation fears eased on Friday after U.S. nonfarm payrolls leaped by 313,000 jobs in February, but uptick in wages was weaker than expected after a surge in January.

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