Asian markets rise on strong US jobs data, trade talks in focus
Hong Kong, Dec 9 (AFP/APP): Asian markets mostly rose Monday as investors tracked a rally on Wall Street that was fuelled by a forecast-busting US jobs report, while there was little inspiration from tepid Chinese trade data. While observers widely expect Beijing and Washington to hammer out a partial tariffs agreement, trading floors remain nervous places with less than a week until a deadline when the US is due to impose fresh levies on Chinese goods. Hopes that the US and global economy could be showing signs of picking up were given a boost Friday when the Labor Department said the US economy created 266,000 net new jobs in November, while it upgraded its readings for the previous two months. The figure was well up from the 190,000 expected, while the report also showed unemployment at a 50-year low and wages growth improving. The data “could support the notion (of) a near-term rebound in the US and the global economy,” said AxiTrader’s Stephen Innes. “Even if you don’t believe that narrative while thinking we are merely in the calm between two storms, it’s challenging to critique this… report in any other light than to describe it as excellent, if not … Continue reading Asian markets rise on strong US jobs data, trade talks in focus
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