CANBERA (dpa-AFX) - Asian stocks rose broadly on Monday as investors weighed surprisingly positive jobs report from the U.S. and Canada against Chinese trade data painting a mixed picture of its economic recovery from the Covid-19 virus.
Chinese shares eked out modest gains after the release of weak trade data, with both exports and imports falling in May.
Official data showed Sunday that exports from the manufacturing powerhouse fell an annual 3.3 percent last month, while imports tumbled 16.7 percent.
The benchmark Shanghai Composite index edged up 6.97 points, or 0.24 percent, to 2,937.77, while Hong Kong's Hang Seng index finished marginally higher at 24,776.77.
Japanese shares rose for a sixth straight day, with strong U.S. jobs data and a weakening yen helping underpin sentiment. Investors also cheered an upward revision of Japan's gross domestic product in the first quarter, although the economy was still mired deep in recession.
The Nikkei average rallied 314.37 points, or 1.37 percent, to 23,178.10, while the broader Topix index closed up 1.13 percent at 1,630.72.
Airlines led the surge, with Japan Airlines rising 3 percent and ANA Holdings adding 2.5 percent. Banks Mitsubishi UFJ Financial and Sumitomo Mitsui soared around 4.5 percent each. Market heavyweight SoftBank Group gained 2 percent and Fast Retailing rose 1.7 percent.
Seoul stocks ended on a flat note after Samsung Group heir Jay Y. Lee appeared in court for a hearing to determine whether he should be jailed over allegations of accounting fraud.
The benchmark Kospi inched up 0.11 percent to 2,184.29, while heavyweight Samsung Electronics dropped 1.1 percent. Top automaker Hyundai Motor advanced 1.8 percent and its affiliate Kia Motors climbed 2.5 percent.
The Australian market was closed for a holiday. New Zealand shares posted strong gains after Prime Minister Jacinda Ardern said that all coronavirus measures in the country will be lifted from Tuesday, barring border closure restrictions. The benchmark NZX-50 index rallied 352.50 points, or 3.16 percent, to 11,524.16.
U.S. stocks soared on Friday after a government report showed an unexpected jump in employment in the month of May, raising optimism about a quick economic recovery.
Non-farm payroll employment jumped by 2.51 million jobs in May after plummeting by a revised 20.69 million jobs in April, reflecting a limited resumption of economic activity. The jobless rate dropped to 13.3 percent.
Economists had been expecting the loss of another 8.0 million jobs and a spike in the unemployment rate to near 20 percent.
The Dow Jones Industrial Average spiked 3.2 percent, the tech-heavy Nasdaq Composite rallied 2.1 percent and the S&P 500 added 2.6 percent.
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