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.

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