Asian equities rise following Wall Street’s reaction to jobs data

Asian markets kicked off a new week in green territory, following a strong close in Wall Street after jobs data surpassed analysts’ expectations.

In Japan, the Nikkei 225 was more one-and-a-half percent higher, while the Topix showing a similar development. All subindexes were trading higher.

In South Korea, the Kospi rose 1.12 percent. Hong Kong's Hang Seng Index gained 1.53 percent, finding support in energy and tech sectors.

Mainland indexes such as the Shanghai composite was up half a percent and the Shenzhen composite about 0.81 percent higher.

Sydney’s S&P/ASX 200 added 0.74 percent, with materials and energy sectors moving upwards. Gold companies notched down as demand for the yellow metal eased amid an improving geopolitical context.

In other news, US President Donald Trump said he is working with Australian Prime Minister Malcolm Turnbull to ensure that Australia will not be affected by his decision on steel and aluminium tariffs.

Last week, Trump signed on the imposition of tariffs of 25 percent and 10 percent on steel and aluminum imports, with Canada and Mexico exempted from them.

Wall Street three major stock indexes posted strong gains of nearly 1.7 percent following the latest report by the US Labor Department.

The US Labor Department said the US economy added 313,000 jobs in February, above economists’ expectations for a 200,000 build.

However, average hourly wages growth came out below forecast, with a 0.1 percent increase in February, compared to an estimated 0.2 percent build.

Those figures boosted speculation that the Federal Reserve will not be raising interest rates four times this year, but rather three, as it was firstly announced by the US regulator.

<<< Asian Stock Indexes >>>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

Australia ASX S&P                +40.20 +0.66%           6,109.30

Shanghai Composite             +17.01 +0.51%           3,324.17

Hong Kong Hang Seng          +472.96          +1.53%           31,469.17

Japan Nikkei 225        +239.78 +1.12%        21,708.98

Taiwan TSEC 50 Index          +133.25          +1.23%           10,998.07