Asian markets were broadly higher on Monday after strong U.S. jobs data lifted indexes on Wall Street. All eyes were on trade talks in Beijing, where American and Chinese officials are trying to resolve a trade dispute that threatens to worsen an economic slowdown and put a drag on the global economy
Japan’s benchmark, bouncing back from steep losses last week, started the day trading over 3% higher. By midday, the Nikkei 225 index NIK, +2.44% was up 2.8% after Prime Minister Shinzo Abe said Sunday the government would keep a close eye on risk as it plots out its economic policy. “Japan’s economic fundamentals are sound, but we’d like to guide policy with a close eye on the various risks,” he said, according to Reuters. Toyota shares 7203, +3.15% jumped 3% and Honda 7267, +3.69% surged 3.4%. SoftBank Group 9984, +3.67% rose more than 4% and Nintendo 7974, +5.85% gained more than 5%.
Hong Kong’s Hang Seng HSI, +0.82% climbed 0.7%, with Apple AAPL, +4.27% iPhone component makers AAC 2018, -0.12% and Sunny Optical 2382, +2.28% up more than 2% each following steep losses last week. Tech giant Tencent 0700, +2.25% rose 1.7%.
South Korea’s Kospi SEU, +1.34% gained 1.2% as Samsung 005930, +3.47% jumped 3%. Australia’s S&P-ASX 200 XJO, +1.14% added 1.2%. Shares also rallied in Taiwan Y9999, +2.21% and throughout Southeast Asia.
U.S. indexes soared on Friday after the Labor Department announced that employers added a better-than-expected 312,000 jobs in December. While the unemployment rate rose slightly, it was taken as a good sign that more people were looking for jobs. Gains were also supported