Asian markets bounced back today (October 6th) from last week's lows following the release of better-than-expected US payroll data.
The US economy generated 248,000 jobs in September, with the unemployment rate dropping to 5.9 per cent, its lowest level in six years.
“This is an extraordinary number,” Doug Cote, chief market strategist at Voya Investment Management LLC, told Bloomberg. "This allays the fears about growth and offsets what we’re seeing in Europe. There’s a consistent downward trend in unemployment. It bodes well for not only future GDP growth, but future corporate profits as well."
Tokyo's Nikkei 225 rose 1.2 per cent to 15,890.95 and Hong Kong's Hang Seng index jumped 1.1 per cent to 23,315.04.
However, while Japan and Hong Kong were up, the rest of Asian markets were slightly down.
South Korea's Kospi lost 0.4 per cent to 1,968.39 and Australia's S&P/ASX 200 edged down 0.5 per cent to 5,292.90.
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