Asian stocks ended mostly higher on Monday as weaker than expected U.S. job growth in April eased concerns over the prospect of higher interest rates.<\/p>\n
Chinese shares eked out modest gains, with healthcare firms climbing after European Union leaders cranked up their criticism of the United States’ call to waive COVID-19 vaccine patents.<\/p>\n
The benchmark Shanghai Composite Index rose 9.12 points, or 0.3 percent, to 3,427.99, while Hong Kong’s Hang Seng Index ended marginally lower at 28,595.66.<\/p>\n
Japanese shares advanced as investors awaited earnings from prominent firms for signs of progress in a pandemic-hit economy<\/span>. The Nikkei 225 Index climbed 160.52 points, or 0.6 percent, to 29,518.34, while the broader Topix ended 1 percent higher at 1,952.27.<\/p>\n Toyota Motor advanced 1.7 percent, Honda Motor jumped 2.1 percent and Nissan Motor surged 4.4 percent ahead of their earnings results due this week.<\/p>\n Heavyweight SoftBank Group, which is scheduled to report results on Wednesday, rose 1.7 percent. Steelmakers Nippon Steel, Daido Steel and JFE Holdings jumped 5-7 percent.<\/p>\n Australian markets<\/span> advanced, with higher commodity prices and encouraging data on retail sales and business<\/span> conditions helping underpin sentiment.<\/p>\n The benchmark S&P\/ASX 200 Index rallied 92 points, or 1.3 percent, to 7,172.80, while the broader All Ordinaries Index ended up 94.60 points, or 1.3 percent, at 7,419.80.<\/p>\n BHP, Rio Tinto, OZ Minerals and Fortescue Metals Group jumped 3-8 percent after iron ore and copper prices hit record highs on Friday. Casino giant Crown Resorts soared 7.3 percent and rival Star Entertainment climbed 7.7 percent after confirming a $12 billion merger proposal between the two.<\/p>\n Explosives and fertilizer maker Incitec Pivot plunged 8.9 percent after a further update on the Waggaman ammonia plant. Lender ANZ dropped 1.3 percent on going ex-dividend.<\/p>\n Seoul stocks hit a record high as a disappointing U.S. jobs report helped allay fears about higher inflation, interest rates and a cutback in stimulus. The benchmark Kospi surged up 52.10 points, or 1.6 percent, to 3,249.30.<\/p>\n Meanwhile, New Zealand shares ended lower as A2 Milk Company downgraded its FY 2021 guidance once again after a weaker than expected performance in the Chinese market and a writedown of up to $90 million in the value of its inventory. <\/p>\n The benchmark NZX-50 index slid 70.91 points, or 0.6 percent, to 12,659.01, while A2 Milk shares plummeted 12.8 percent. <\/p>\n U.S. stocks rose on Friday as a surprisingly weak jobs report helped increase bets that the Fed will not pull back on its easy money policies anytime soon.<\/p>\n Data showed non-farm payroll employment rose by 266,000 jobs in April after surging by a downwardly revised 770,000 jobs in March. The jobless rate inched up to 6.1 percent from 6.0 percent in March.<\/p>\n The Dow and the S&P 500 both climbed around 0.7 percent to reach new record closing highs, while the tech-heavy Nasdaq Composite gained 0.9 percent. <\/p>\n