Asian shares gain as U.S. payrolls calm investors
Asian share markets were seen upbeat on Monday. Investors’ enthusiasm was supported by a rebound in U.S. payrolls, but the expansion came out mildly that it might still prompt the Federal Reserve to discuss the prospect of tapering.
MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% increase, on track to salvage three sessions of declines. Japan’s benchmark index Nikkei gained 1.0% to hit its strongest level in a month, while South Korean shares traded 0.7% higher.
While the 559,000 increase in U.S. payrolls failed to hit expectations, the figure still calmed investors after a weak reading in April. In addition to this, the unemployment rate of the country was read at 5.8%, indicating that the Federal Reserve’s objective of full employment would take longer to achieve.