Asian Shares Higher Monday 12/11 06:08
Share prices were higher in Asia on Monday, lifted by encouraging employment
data from the U.S. that took the Standard & Poor's 500 index to its third
straight weekly gain on Friday despite weakness earlier in the week.
TOKYO (AP) -- Share prices were higher in Asia on Monday, lifted by
encouraging employment data from the U.S. that took the Standard & Poor's 500
index to its third straight weekly gain on Friday despite weakness earlier in
KEEPING SCORE: Japan's Nikkei 225 stock index climbed 0.6 percent to
22,983.73 and Hong Kong's Hang Seng index gained 1.0 percent to 28,923.94. The
S&P ASX 200 in Australia edged 0.1 percent higher to 6,030.01 and the Shanghai
Composite index added 0.9 percent to 3,318.87. South Korea's Kospi picked up
0.3 percent at 2,471.49. India's Sensex rose 0.2 percent to 33,329.96 and
shares in Southeast Asia also were higher.
WALL STREET: U.S. shares climbed after the jobs report showed that employers
added 228,000 jobs last month and the unemployment rate remained at a low 4.1
percent in the latest evidence that the U.S. economy continues to improve, in
sync with the rest of the world. The S&P 500 rose 0.6 percent to 2,651.50,
another record. The Dow Jones industrial average gained 0.5 percent to
24,329.16 and the Nasdaq composite added 0.4 percent to 6,840.08.
ANALYST VIEWPOINT: "Asia markets looks set to commence the week with a
positive start, lifted by the tail winds from last Friday's rally in the US.
Having said this, we are at the fore of a week filled with event risks and it
would be of little surprise to see investors exercising caution ahead," Jingyi
Pan of IG said in a commentary.
GEOPOLITICS: An agreement that allows talks to continue to the next stage
for the United Kingdom to leave the European Union has reassured investors
investors hoping for a smooth exit that does not disrupt global trade. Another
potential source of worry for investors dissipated after Congress passed a
spending bill that prevented a government shutdown. It keeps the U.S.
government running only until Dec. 22, though, when another deadline looms.
ENERGY: The price of oil fell back, with benchmark U.S. crude losing 11
cents to settle at $57.25 per barrel in electronic trading on the New York
Mercantile Exchange. It gained 67 cents to $57.06 per barrel on Friday. Brent
crude, the international standard, lost 8 cents to $63.32 per barrel. It rose
$1.20 to $63.40 per barrel on Friday. That helped energy stocks in the S&P 500
rise 0.9 percent.
BITCOIN: The first-ever bitcoin future jumped as the increasingly popular
virtual currency made its debut on the Chicago Board Options Exchange. The
futures contract that expires in January surged more than $3,000 to $18,500 in
during Asian trading hours after it was launched on the Chicago Board Options
Exchange. The price of an actual bitcoin has soared since beginning the year
below $1,000. As of 0700 GMT it was at $16,660.43 on the private exchange
CURRENCIES: The dollar slipped to 113.43 Japanese yen from 113.48 yen late
Friday. The euro rose to $1.1785 from $1.1774, and the British pound dropped to
$1.3423 from $1.3465