Learning Investment09 - Asian stock markets reached the
highest level in two months on stock trading earlier this week. This is
supported by positive sentiment from rising oil prices and labor data United
States (US).
The MSCI index of Asia Pacific
stocks outside Japan rose 0.5 percent. However, Japan's Nikkei stock index fell
0.6 percent to 16919.69. Meanwhile, the Australian stock index rose 0.9
percent. Followed by South Korea's Kospi stock index climbed 0.3 percent. New
Zealand stock indexes were little changed.
Strengthening stock indexes in the
Asian stock markets supported sentiment employment data from the United States
(US). US employment data grew 242 thousand in February, beating estimates of
190 thousand new employment.
In addition, oil prices also reached
its highest level in three months. At the beginning of this week, market
participants will also respond to China's economic growth target in the range
of 65 per cent. Plus a fiscal deficit of about 3 percent of gross domestic
product (GDP).
US economic data also showed a
recovery in the US manufacturing sector, thereby reducing concern the US
economy may slip into recession.
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"US jobs data helped to push
back the US economy. With a brighter outlook for the US economy which could
affect risk assets," said Masahiro Ichikawa, an analyst at Sumitomo Mitsui
Asset Management, as quoted by Reuters page, Monday (03/07/2016).
On the currency markets, the US
dollar index tends to fall against six major currencies last week. The US
dollar index is in the range of 97.01. Meanwhile, the euro rose to US $ 1.1043
and the yen was little changed against the US dollar to a level of 113.88.
"Australia's currency and the
US dollar eased slightly in early trading in Asia as the meeting of China's
National People's Congress. There are no major positive surprises from the
meeting," wrote analyst at Commonwealth Bank Joseph Capurso
