Asian markets mostly higher on US jobs data

ASIAN markets mostly rose yesterday, tracking gains on Wall Street after strong US jobs data but worries about Greece's unresolved debt crisis and default fears weighed on markets and the euro.

Tokyo was up 1.10 per cent, or 97.27 points, at 8,929.20, Sydney added 1.05 per cent, or 44.8 points, at 4,296, while Seoul gave up earlier gains to close flat, inching 0.79 points higher at 1,973.13.

Hong Kong and Shanghai were both flat in afternoon trade.

Financial markets in Kuala Lumpur and Wellington were closed yesterday for a public holiday.

Investors cheered the latest batch of US economic data, which hinted that the world's biggest economy was staging a lasting recovery as the Dow Jones Industrial Average climbed to pre-financial crisis levels on Friday.

The Labour Department figures showed that the US economy added 243,000 new jobs in January, while the unemployment rate fell to 8.3 per cent from 8.5 per cent in December the lowest rate since February 2009.

The White House said the jobs report was another sign that the country's economy was climbing back from the deep 2008-2009 recession.

Indonesia said yesterday its gross domestic product grew by 6.5 per cent last year, the latest in a string of positive economic news for Southeast Asia's largest economy.

On forex markets, the euro bought US$1.3073 and 100.18 yen, down from US$1.3156 and 100.80 yen in New York late Friday. The dollar changed hands at 76.60 yen, almost flat from New York.

New York's main contract, West Texas Intermediate crude for delivery in March, was down 54 cents at US$97.30 a barrel in the afternoon.

Brent North Sea crude for March delivery shed four cents to US$114.54.

Gold was at US$1,731.20 an ounce at 0730 GMT, against US$1,736.50 late Friday.

Taiwan shares fell 0.69 percent, or 53.26 points, at 7,687.98.

Hon Hai Precision was 1.57 percent lower at NT$94.0 while smartphone maker HTC lost 5.16 percent at NT$551.0.

AFP