Asian stocks edged higher on Monday, gaining some momentum from gains in US stocks after the unexpectedly strong US jobs data, although gains were capped by concerns of a slowdown in China's economy.
The Nikkei. N225 rose 0.4%. The MSCI Mingsheng Asia Pacific Index (excluding Japan) rose 0.3%. Australia equities and South Korea equities. Ks11 rose 0.4% and 0.3%, respectively.
China's Shanghai Composite Index. SSEC was flat, while Hong Kong's Hang Seng Index. HSI rose 0.2%.
U.S. stocks rose near record highs on Friday, boosted by strong employment data and optimistic signs surrounding trade talks between the two countries. The S & P 500. SPX closed just 0.2% below its November high.
U.S. jobs rose the most in 10 months in November as hiring in the health care industry increased and GM workers returned to work after the strike. Strong employment data is the most telling sign yet that the economy is not in danger of stagnation.
"The economy is still climbing and breaking the record for the duration of economic growth," said Chris rupkey, chief financial analyst at MUFG union bank. "The gloom of the current recession is still far away, despite economic difficulties in other parts of the world and resistance from trade wars."
Larry kudlow, director of the White House's national economic committee, said Friday that December 15 was the deadline for the us to impose a new round of tariffs on Chinese consumer goods, but President trump liked the direction of current trade negotiations with China.
Hot Model No.: