Asia Shares Rise, Dollar Stands Tall After UpBeat US Jobs Report

Asian shares rose on Monday and the dollar stood tall after a stronger-than-expected July jobs report lifted confidence in the strength of the US economy - heightening expectations that the US Federal Reserve could hike interest rates this year

 July nonfarm payrolls rose by 255,000 jobs and the June increase was revised upward to 292,000, the Labor Department said. Economists polled by Reuters had forecast July payrolls would increase by 180,000.

 "The robust US labour market data raise the chances for monetary policy normalization by the Fed, but uncertainties for the US remain high as well," wrote strategists at Barclays. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trading, after gaining 0.7 %last week. US shares logged solid gains on Friday, with both the S&P 500 and the Nasdaq Composite closing at record highs.

 Japan's Nikkei stock index, which skidded 1.9 % last week in the face of a strengthening yen, was 1.6 % higher in early trade.visitus http://www.ripplesadvisory.com/aboutus.phpor Get Two Days Free Trial just on One Missed Call @98-27-80-80-90  

The dollar was up 0.3 % at 102.07 yen. It was steady against the euro at USD 1.1085. The dollar index, which tracks the greenback against a basket of six major rivals, was 0.1 percent higher at 96.295, not far from a one-week high of 96.522 hit on Friday after the jobs report.