Asian stocks rose after a U.S. employment report boosted optimism in the world’s largest economy, with Japanese shares climbing as a weaker yen sent exporters higher.
The MSCI Asia Pacific Index advanced 0.4 percent to 132.62 as of 9:00 a.m. in Tokyo. The Standard & Poor’s 500 Index rose the most in almost three months on Friday, while the yen weakened 0.4 percent against the dollar after the bigger-than-expected increase in American nonfarm payrolls. Japan’s Topix index added 0.9 percent on Monday. The data supports the case for the Federal Reserve lifting interest rates next week, according to Shane Oliver, head of investment strategy in Sydney at AMP Capital Investors Ltd., which oversees about $115 billion.
South Korea’s Kospi index rose 0.7 percent. Australia’s S&P/ASX 200 Index added 1.2 percent and New Zealand’s S&P/NZX 50 Index advanced 0.2 percent.