· Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong U.S. jobs data, although regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-U.S. trade war.
Japan's benchmark Nikkei .N225 added 0.33% while MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.27%. China's Shanghai Composite .SSEC stood flat and so did Hong Kong's Hang Seng .HSI.
U.S. job growth increased by the most in 10 months in November as the healthcare industry boosted hiring and production workers at General Motors returned to work after a strike, in the strongest sign that the world’s largest economy is in no danger of stalling.
· Japanese shares rose on Monday following robust U.S. jobs data, although gains were limited on concerns about Chinese economy and as the deadline for U.S. tariffs on Chinese goods nears.
The Nikkei 225 index ended Monday up 0.33% at 23,430.70, with consumer discretionary and industrial sectors leading gains. The benchmark is up for a third straight session.
Data on Friday showed the U.S. economy created the most new jobs in 10 months and the jobless rate fell to the lowest in nearly half a century.
However, investors were cautious after China’s exports fell for a fourth consecutive month in November as tariffs already put in place took their toll.
The focus shifts to the Dec. 15 deadline when U.S. tariffs on Chinese goods take effect, unless the two sides reach a compromise. Remarks around this issue could cause financial markets to swing wildly.
· China’s blue-chip stocks closed lower on Monday after latest trade data highlighted persistent headwinds for the country’s manufacturers amid a prolonged Sino-U.S. trade war.
The blue-chip CSI300 index fell 0.2% to 3,895.45, while the Shanghai Composite Index added 0.1%to 2,914.48.
China’s exports in November shrank for the fourth consecutive month, underscoring the pressure on manufacturers from the tariff war with the United States, but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.
The 17-month long trade dispute has heightened the risks of a global recession and fuelled speculation that China’s policymakers could unleash more stimulus, as growth in the world’s second-largest economy cooled to nearly 30-year lows.
· European stocks opened slightly lower on Monday as weak Chinese export data highlighted the detrimental impact of its prolonged trade war with the U.S.
The pan-European Stoxx 600 slipped 0.1% lower in early trade, with oil and gas stocks falling 0.6% to lead losses while retail stocks added 0.6% as most sectors entered negative territory.
Reference: Reuters, CNBC
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