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Asian shares modestly up in early trading

Asian shares modestly up in early trading

Asian stock markets made modest gains in early trading Monday after an encouraging U.S. jobs report offered the latest sign the global economy is on the mend.
Japan's Nikkei 225 stock average rose 0.5 percent to 11,343.65, while South Korea's Kospi index was flat at 1,722.97.
On Friday, the U.S. Labor department said employers added 162,000 jobs in March, the largest job gain in three years. The unemployment rate stayed at 9.7 percent for the third straight month.
The dollar stayed firm against the yen, supporting Japanese exporters like Canon Inc. and Sony Corp. that benefit from a weaker home currency. Yen depreciation increases the value of overseas profits that are brought home to Japan.
Sony advanced 1.1 percent, while Canon jumped 2.3 percent. South Korea's Samsung Electronics Co. was up 1.4 percent.
The Dow Jones industrials rose 0.7 percent 10,927.07, a new high for the year on Thursday. Wall Street was closed for Good Friday, as were other major markets around the world.
Trading volume in Asia was light as many markets remained closed Monday, including Australia, New Zealand, Hong Kong, Taiwan and China.
In currencies, the dollar was trading at 94-yen levels from 93-yen levels last week.


Updated : 2021-04-11 19:01 GMT+08:00