Asian indices continued Friday, March 7, growth, and peaked in the last two months amid upbeat data on the U.S. labor market and rising oil prices, reports Reuters.
The composite stock index MSCI Asia Pacific region (excluding Japan) at auction on 7 March added 0.5%, recouping about 80% of their losses from the beginning of 2016. The Japanese index Nikkei 225 has grown on Monday by 0.3%.
Posted on Friday statistics on the US labour market indicate that the number of new jobs in the U.S. in February amounted to 242 thousand at the forecast of 190 thousand the share of the economically active population grows over the three months in a row.
These optimistic figures show some signs of recovery in the U.S. manufacturing sector and reduce fears that the U.S. economy could plunge into recession under the burden of low oil prices and stronger dollar.
“Data on the labor market helped to push excessive pessimism about the U.S. economy. Appearing prospects in the U.S. economy reinforce a variety of risky assets”, — quotes Agency the words of Masahiro Ichikawa of Sumitomo Mitsui Asset Management.
Meanwhile, oil prices reached a nearly three-month highs, after Bouncing last week almost 10%. At the present time futures for oil of mark Brent with delivery in may traded above $39 per barrel, according to AFP.