Japan shares rise as major Asia-Pacific markets close

SINGAPORE – Japan shares rose in trading Monday afternoon as many of the major markets in Asia and the Pacific are closed for the holidays.

In Japan, the Nikkei 225 rose 0.91% while the Topix index advanced 0.66%.

South Korea’s Kospi hovered above the flat line. Shares of LG Electronics were up about 0.6%. The firm announced Monday that it will close its mobile business unit to focus resources on “growth areas” such as electric vehicle components.

MSCI’s broader Asia-Pacific equity index outside of Japan traded little.

The markets of Australia, mainland China and Hong Kong are closed on Mondays for holidays.

US Payrolls Smash Expectations

When it comes to economic developments, the US Department of Labor reported on Friday that nonfarm payrolls increased by 916,000 in March, well above the 675,000 increase expected by economists surveyed by Dow Jones.

The unemployment rate also fell to 6%, in line with the expectations of economists surveyed by Dow Jones.

Coins and oil

The US dollar index, which tracks the dollar against a basket of its peers, was at 92.942, up from 93.3 seen late last month.

The Japanese yen was trading at 110.57 per dollar, weaker than the 110.5 levels against the dollar seen last week. The Australian dollar changed hands at $ 0.7619, up from levels below $ 0.756 seen last week.

Oil prices were lower in the late afternoon Asian business hours, with international benchmark Brent crude futures falling 0.99% to $ 64.22 a barrel. US crude futures fell 0.91% to $ 60.89 a barrel.


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