HONG KONG - Asian investors welcomed a forecast-busting US jobs report to send Asian equities higher on Friday , though a resurgence in virus infections through the world's top economy continued to temper big gains.
The jobs report showed people returning to jobs in hard-hit and crucial sectors such as leisure and hospitality, which accounted for just under half of the increase. Sydney and Seoul were both 0.6 per cent higher, Taipei put on 0.7 per cent and Wellington gained 0.8 per cent. There were also advances in Singapore and Jakarta, though Manila edged slightly lower.
Analysts warned that while the employment data were good, jobless claims were still elevated -- at 1.43 million last week, which was slightly better than the week before but missed expectations.
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Source: BusinessTimes - 🏆 15. / 51 Read more »