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Asia-Pacific shares mostly inch up
On Monday, stock indices of the Asia-Pacific region mostly ascended after the soar on Wall Street on Friday after the publication of mixed data on employment in the United States in April. A report from the Ministry of Labor revealed that employers managed to add 164,000 jobs in April, while the unemployment rate went down to 3.9% from 4.1% a month earlier, hitting its lowest value since December 2000. Market experts had expected 192,000 new jobs in April, the unemployment rate headed south to 4%.
Meanwhile, prices for crude are still above $70 per barrel in Asia in the face of worries that the United States might impose sanctions on Iran.
The Australian market is moving ahead of the revenue on Wall Street, while the leap in commodity prices has pushed equities of energy and mining companies.
Meanwhile, in the mining sector, BHP Billiton shares tacked on nearly 2%, Fortescue Metals acquired more than 1%, while Rio Tinto ascended 0.6%, which reflects higher prices for copper and iron ore.
Additionally, the market value of the gold prospector Evolution Mining inched up by 1%, Newcrest ascended by more than 1%.
As for the crude reserves, Oil Search, Woodside Petroleum as well as Santos ramped up their capitalization by nearly 1% after crude prices tacked on Friday.
The Japanese market slumped into negative territory having opened in the green zone. By the way, a strengthening yen had an impact on the shares of exporters.
Equities of Mitsubishi Electric went up by less than 0.1%. Besides this Sony tacked on by more than 2%, while Panasonic gained by more than 1% and Canon rallied by 0.3%.
In the technical space, Alps Electric dived by nearly 1%, Kyocera lost 1%, Advantest declined 3%.
As for car makers, Toyota shares gained 0.2%, Honda slumped 1%.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.