Global Market News

US Jobs Report, FX, Holidays Roil Asian Stcok Markets


Last updated: 06/10/2024 06:42:56

06:42 AM EDT, 06/10/2024 (MT Newswires) -- Asian stock markets were mixed Monday with Tokyo rising on foreign-currency movements, but other exchanges lagging after the strong US jobs report of Friday boosted the outlook for a tighter Federal Reserve.

Trading floors in Hong Kong, Shanghai, Sydney and Taiwan were closed on holiday.

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 0.9% as a softer yen lifted export issues.

The benchmark Nikkei 225 rose 354.23 to 39,038.16, as gaining issues outnumbered losers 179 to 44.

Leading the upside was electronics shop Sharp, up 6.3%, while chemicals and cosmetics outfit Kao lost 4.1%.

In economic news, Japan's gross domestic product, or GDP, contracted at a revised 1.8% annual rate in the first quarter, less than the 2% shrink rate of the preliminary estimate released in mid-May, reported the Cabinet Office.

On the other regional exchanges, the S. Korean KOSPI fell 0.8%; the Singapore Straits Times Index lost 0.3%, and the Thai Set rose 1.1%. In late trading in Mumbai, the Sensex was down 0.3%.
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