Asia: Stocks extend gains as US jobs trump virus worries

The US advances, and a strong performance in Europe - where countries are pressing ahead with lockdown easing - gave Asia a strong lead, which investors picked up on.

Sydney and Seoul were both 0.6 per cent higher, Taipei put on 0.7 percent and Wellington gained 0.8 percent. There were also advances in Singapore and Jakarta, though Manila edged slightly lower.Chris Gaffney, at TIAA Bank, said:"There's still a general positive sentiment about how quickly we're seeing the recovery.

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. "The non-farm payrolls report is a mid-June snapshot, which might have been the 'sweet spot' of near-term employment optimism as the virus situation in the US has deteriorated sharply since," warned AxiCorp's Stephen Innes.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tokyo: Stocks open higher on us jobs data, virus hopes[TOKYO] Tokyo stocks opened higher on Friday, extending rallies on Wall Street as investors cheered a solid rebound in US employment and encouraging news about progress towards a coronavirus vaccine. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US stocks gain, concluding best quarter since 1998NEW YORK: Wall Street stocks rallied for a second straight session on Tuesday (Jun 30), concluding the best quarter for equities in more than two ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »