Published On: Mon, Aug 8th, 2016

Asia Stocks Rise, Led by Japan, as Yen Falls After U.S. Payrolls

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Asian stocks rose as the yen weakened after a strong U.S. jobs report, sending Japanese exporters higher.

The MSCI Asia Pacific Index climbed 0.2 percent to 136.04 as of 9:00 a.m. in Tokyo. Japan’s Topix index gained 1.1 percent after nonfarm payrolls climbed by 255,000 last month, exceeding all forecasts in a Bloomberg survey of 89 economists. The yen fell 0.3 percent to 102.08 per dollar, after dropping 0.6 percent on Friday as demand for haven assets waned.

Asian equities are resuming a rally that halted last week after a fresh round of Japanese fiscal stimulus disappointed investors. The regional measure has climbed about 21 percent from a February low, shrugging off the effects of Britain’s vote to leave the European Union, as central banks unleash further monetary easing while data from the labor market to retail sales and industrial production spur confidence in the world’s largest economy.

Source : Bloomberg

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