Asian Stocks Higher On Strong US Jobs Report

Tokyo: World shares were mixed on Monday while oil prices pushed higher after the Israeli military said that projectiles fired from Gaza set off sirens in central Tel Aviv, as Israel marked a year since the Oct 7 attack by Hamas. After a day of strong gains in Asia, shares fell in Europe. The CAC 40 in Paris edged 0.1 per cent lower to 7,530.43. Germany’s DAX lost 0.3 per cent to 19,059.46 and the FTSE 100 in London was down 0.1 per cent at 8,275.18. The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.4 per cent. Asian shares logged strong gains after a surprisingly strong US jobs report raised optimism about the economy, sparking a rally Friday on Wall Street.

Japan’s Nikkei-225 index gained 1.8 per cent to 39,332.74 after the yen sank against the US dollar. The Japanese currency has bounced on speculation over the central bank’s plans for interest rates since Prime Minister Shigeru Ishiba took office last week. Lower interest rates tend to boost prices of shares and other asset, and both Ishiba and the central bank governor suggested no hikes were likely soon. Nintendo gained 4.4 per cent following reports that a Saudi wealth fund was planning to increase its investment in the Kyoto, Japan-based video game maker.