Asian stock markets rose on Monday following last week’s rally on Wall Street, as investors brushed off a worse-than-expected U.S. jobs report.
The Dow Jones Industrial Average and the S&P 500 posting their best two-day gains in four months despite January’s weak non-farm payrolls report. 113,000 jobs were created last month, well below estimates of 185,000, while the jobless rate fell to 6.6 percent versus expectations of 6.7 percent.
“The Fed is not likely to consider the non-farm payrolls report solely in its decision without due regard to the range of labor market indicators available, and in that context things are looking stable,” wrote analysts at Mizuho Bank in a morning note.
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