Shares were mostly higher in Asia on Monday after a report Friday showed resilience in the U.S. jobs market.
Tokyo’s Nikkei 225 index JP:NIK added 0.4%. In Seoul, the Kospi KR:180721 surged 1%. The Shanghai Composite index CN:SHCOMP gave up early gains, losing 0.1%. Shares rose in Taiwan TW:Y9999 but fell in Singapore SG:STI and Indonesia ID:JAKIDX.Tokyo’s Nikkei 225 index NIK added 0.4%. In Seoul, the Kospi 180721 surged 1%. The Shanghai Composite index SHCOMP gave up early gains, losing 0.1%. Shares rose in Taiwan Y9999 but fell in Singapore STI and Indonesia JAKIDX .
Friday’s jobs report showed that American employers added 236,000 jobs last month, a slowdown from February’s 326,000 and slightly below economists’ expectations. Wages, meanwhile, grew 0.3% from February to match expectations. But year-over-year wage gains slowed to 4.2% from 4.6%. “”I suspect we are entering the peak uncertainty phase around the Fed’s next move as investors debate if credit tightening from financial stress will be enough to warrant cuts or if we are heading for more hikes,” Stephen Innes of SPI Asset Management said in a commentary.
The yield on the 10-year Treasury climbed to 3.40% from 3.30% late Thursday. It was at 3.37% early Monday.
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