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Asian markets end mostly higher on Monday

04 Feb 2019 Evaluate

Asian markets ended mostly higher on Monday as upbeat US jobs data helped investors shrug off worries over US-China trade tensions. Hong Kong shares ended up, even as data showed activity in China's services sector moderated in January. The Caixin services PMI fell to 53.6 from 53.9 in December, even though new export sales grew at the fastest pace in more than a year. Further, Japanese shares closed higher, with a weaker yen on the back of solid US jobs data and a surge in crude oil prices helping underpin investor sentiment. US non-farm payroll employment surged up by 304,000 jobs in January compared to economist estimates for an increase of about 165,000 jobs while the jobless rates unexpectedly ticked up to 4.0 percent, reflecting a rise in workers on temporary layoff as a result of the government shutdown. However, the employment growth in the previous month was downwardly revised to 222,000 jobs from the initially reported 312,000 jobs. Meanwhile, markets in mainland China and Taiwan are closed for the week for Lunar New Year celebrations. South Korean markets were closed for a holiday.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

-

-

-

Hang Seng

27,990.21
59.47
0.21

Jakarta Composite

6,481.45
-57.19
-0.87

KLSE Composite

1,683.61

0.08

--

Nikkei 225

20,883.77
95.38
0.46

Straits Times

3,184.56
-4.12
-0.13

KOSPI Composite

-

-

-

Taiwan Weighted

-

-

-

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