Asia markets opened higher on Monday, after a strong employment report stateside saw US stocks rise on Friday. Japan's Nikkei 225 rallied 2.6 percent in early trade, while the Topix was up 2.4 percent. Across the Korean Strait, the Kospi added 0.88 percent.
Australia's ASX 200 was up 1.39 percent, boosted by some 1.7 percent gains in the financials subindex that makes up nearly half of the broader index. Major Australian banks rallied, with shares of ANZ climbing 2.6 percent. "The bulls are seemingly in charge of everything right now," said Chris Weston, chief market strategist at brokerage firm IG. "Whether that is the equity market, gold or US treasuries, no [one] seems to have much conviction in selling, or at least the buyers are buying in bigger size."
The nonfarm payrolls report showed that the US created 287,000 jobs in June, versus 175,000 expected by economists surveyed by Reuters. The unemployment rate edged higher to 4.9 percent, versus the 4.8 percent estimate.
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Australia's ASX 200 was up 1.39 percent, boosted by some 1.7 percent gains in the financials subindex that makes up nearly half of the broader index. Major Australian banks rallied, with shares of ANZ climbing 2.6 percent. "The bulls are seemingly in charge of everything right now," said Chris Weston, chief market strategist at brokerage firm IG. "Whether that is the equity market, gold or US treasuries, no [one] seems to have much conviction in selling, or at least the buyers are buying in bigger size."
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