Asia Stocks Rise, Led by Japan, as Yen Falls After U.S. Payrolls

Asian stocks rose as the yen weakened after a strong U.S. jobs report, sending Japanese exporters higher.

The MSCI Asia Pacific Index climbed 0.2 percent to 136.04 as of 9:00 a.m. in Tokyo. Japan’s Topix index gained 1.1 percent after nonfarm payrolls climbed by 255,000 last month, exceeding all forecasts in a Bloomberg survey of 89 economists. The yen fell 0.3 percent to 102.08 per dollar, after dropping 0.6 percent on Friday as demand for haven assets waned.

Asian equities are resuming a rally that halted last week after a fresh round of Japanese fiscal stimulus disappointed investors. The regional measure has climbed about 21 percent from a February low, shrugging off the effects of Britain’s vote to leave the European Union, as central banks unleash further monetary easing while data from the labor market to retail sales and industrial production spur confidence in the world’s largest economy.

Source : Bloomberg

PT Bestprofit Futures – MARKET

Asian Stocks Rise After BOE Cut as Investors Await U.S. Payrolls

Asian stocks rose, paring their first drop in four weeks, after the Bank of England eased policy and as investors looked to Friday’s U.S. jobs report for hints as to the Federal Reserve’s next steps.

The MSCI Asia Pacific Index edged up 0.1 percent to 135.46 as of 9:01 a.m. in Tokyo, heading for a 0.7 percent decline this week. Japan’s Topix index added 0.2 percent after the Bank of Japan boosted daily exchange-traded fund purchases. The Bank of England cut rates to a record Thursday while unveiling a stimulus package aimed at containing the fallout from Brexit. U.S. payrolls are expected to rise in July, returning to a growth path, according to a Bloomberg survey of economists.

Asian equities are sputtering after rallying in July, their best month since March, even as countries from Japan to the U.K unveil fresh stimulus to keep global growth on track. Japan’s Topix has lost 17 percent this year as the yen surged despite a move to negative interest rates announced in January and a new round of fiscal stimulus unveiled last week.

Source: Bloomberg

PT Bestprofit Futures – MARKET