Asian stocks bolstered by US employment data

Nikkei:9,718.89 (+10.50) Hang Seng:24,150.58 (+348.68) Shanghai Comp:2,967.00 (+38.89)

ASIAN STOCKS rose yesterday, driving the regional benchmark index to the highest level since last month’s Japanese earthquake, after US jobs grew faster than forecast.

US unemployment rate fell to a two-year low of 8.8 per cent in March from 8.9 per cent in February. Li Fung, a supplier of toys and home furnishings that counts the US as its biggest market, jumped 4.4 per cent to HK$41.70 in Hong Kong.

Foxconn International, a contract maker of mobile phones, climbed 4.4 per cent to HK$4.76.

James Hardie Industries, which sells home siding in the US, rose 1.3 per cent to A$6.21 in Sydney.

Fast Retailing, the owner of the Uniqlo chain of clothing stores, advanced 3.4 per cent to ¥11,050.

Sands China, the Macau unit of billionaire Sheldon Adelson’s Las-Vegas based casino company, jumped 6.9 per cent to HK$18.48.

SJM Holdings climbed 8.6 per cent HK$14.88. Cnooc, an offshore oil producer, rose 1.7 per cent to HK$20.85.

Mitsubishi, which gets about 19 per cent of sales from energy trading, increased 1.7 per cent to ¥2,364. – (Bloomberg)