TOKYO:Asian stocks started positively and dollar serrated new seven years high against yen on Monday after much stronger-than-expected jobs data emphasized on the power of US economy.
MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged. Australian shares gained 0.8 percent.
Tokyo’s Nikkei rose 0.3 percent, poking above 18,000 for the first time since July 2007.
Data on Friday showed U.S. non-farm payrolls in November surged by 321,000, easily topping forecasts for 230,000 new jobs.
The Dow and S&P closed at record highs in light of the robust employment numbers, although the gains were modest with increasing signs of economic strength seen drawing the Federal Reserve closer to hiking rates.
The dollar was steady at 121.520 yen after touching a new seven-year high of 121.860. The dollar index hovered near a 5-1/2 year high of 89.467.
A bullish dollar worked against crude oil, with the stronger greenback making commodities denominated in the U.S. currency less affordable for holders of other currencies.
U.S. crude was down $1.03 at $64.81 a barrel, heading towards a five-year low of $63.72 struck a week ago, with a strong U.S. jobs report doing little to lift the bearish mood.
Some observers focused on the positives of cheaper oil.
shanghai shares start week with losses 25 june 2018
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