Markets

Pacific shares mixed in ‘fragile’ market environment, oil jumps more than 2%

Asia-Pacific markets traded mixed on Monday as investors reacted to last week’s U.S. jobs report that trounced expectations and fueled hopes for a faster economic recovery.

Australian shares were in the green but retraced some of their earlier gains. The benchmark ASX 200 climbed 1.06% as most sectors traded higher, with the heavily-weighted financials subindex adding 1.05%. Major banking and mining stocks rose: Shares of Commonwealth Bank jumped 1.46% while Rio Tinto added 3.6%, Fortescue was up by 1.13% and BHP gained 2.63%.

In Japan, the Nikkei 225 rose 0.21% as banking stocks advanced. Mitsubishi UFJ Financial Group shares gained 3.31%, Sumitomo Mitsui Financial Group added 2.48% and Nomura shares were up 4.2%. Elsewhere, the Topix index added 0.46%.

Melissa Sithole.

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