May 6, 2013
Asian markets up on solid US NFP
A quiet Asian session, with Japan out of the game once again, celebrating Children’s Day, and most equity indexes edging higher on Monday. Excluding South Korea’s Kospi (-0.10%), Mainland China’s Shanghai Composite (+1.14%), India’s Bombay Sensitive (+0.30%), Hong Kong’s Hang Seng (+1.03%), Indonesia’s Jakarta Composite (+1.06%) and Singapore’s Straits Times (+0.62%) added gains. Australia’s S&P/ASX 200 rose 0.47% the day before the RBA interest rate decision despite a contraction in retail sales by -0.4% (consensus of +0.2%) in March (MoM). HSBC China services PMI eased from 54.3 to 51.1 in April. Asian equity indexes were mostly boosted by the solid US nonfarm payrolls report published on Friday.
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