© Reuters. The values in Asia are progressing after the employment U. S. this Monday afternoon
Investing.com – asian equities have continued to rise Monday afternoon. The strong employment data from the United States last Friday have supported asian stock markets in Tokyo, all the way to China and Seoul.
The United States indicated an increase of 223 000 jobs non-farm payroll employment in may, while average hourly earnings also increased 0.3% compared to may of last year. The unemployment rate rose from 3.9% to 3.8%. The robust data underlined the confidence in the american economy.
Supported by upbeat data on jobs and the likelihood of a further increase in interest rates by the us federal Reserve, the u.s. dollar has remained firm against the japanese yen, up 0.06%. A yen low is often cited as a catalyst for japanese shares, particularly exporters.
The Nikkei 225 has increased from 1.36% at 12: 38 ET (03:38 GMT). Automakers such as Toyota Motor Corp (T: 7203) have advanced 3.79% in, Honda Motor Co (T: 7267) has won 2,14% and Nissan Motor Co (T: 7201) rose 1.61%.
Meanwhile, trade talks between the United States and China over the weekend ended without any announcement of agreement. On Sunday, China stated that “if the United States introduced trade sanctions, including increased tariffs, all economic progress and trade negotiated by the two parties would be cancelled”.
But the trade war is imminent between the United States and China has had little impact on the stock markets of Greater China, given the optimistic figures in the United States and the potential increase in rates by the Fed this month.
The Shanghai Composite and the Shenzhen Component were up 0.22% and 0.25%, respectively.
The Hang Seng in Hong Kong also rose by 1.28%, the automotive company Geely Automobile Holdings Ltd outperforming the other competitors of 4.95%.
Meanwhile, the KOSPI in South Korea rose by 0.25%, and the ASX of australia has also advanced 0.48% in the afternoon.