Asian stock markets are higher on Friday following the overnight gains on Wall Street after a report by the U.S. Labor Department showed another record spike in employment in the month of June and added to optimism about an economic recovery. Data showing that China’s service sector expanded strongly in June also boosted sentiment.
In Japan, the Nikkei 225 added 0.7% while the Topix index ended its trading day 0.6% higher. South Korea’s Kospi advanced 0.8%. Mainland Chinese stocks were among the region’s biggest gainers on the day, with the Shanghai composite surging 2%. Over in Australia, the S&P/ASX 200 finished its trading day 0.4% higher.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.2 after earlier touching a high of 97.291. Crude oil prices climbed on Thursday, with stronger than expected jobs data and optimism about a potential coronavirus vaccine triggering hopes that energy demand will pick up soon.
Saturday, July 04, 2020