Asian stock markets were trading mixed on
Monday, after a stronger-than-expected U.S. nonfarm payrolls data
fuelled speculation that the Federal Reserve may start tapering stimulus
sooner-than-expected.
Official
data on Friday showed that the U.S. economy added 204,000 jobs in
October, much more than the 125,000 increase forecast by economists. In Tokyo, the Nikkei outperformed the region as traders monitored movements in the currency market. USD/JPY rose to hit a session high of 99.23, moving off the previous day's low of 97.96.
Meanwhile, in Hong Kong, the Hang Seng edged higher after data released over the weekend showed that Chinese industrial output rose more-than-forecast in October, while consumer price inflation inched up modestly.
The EUR is trading weaker against most of its major peers this morning. With a fairly light economic calendar today, market participants await a hoard of global economic events scheduled later in the week including consumer price inflation and gross domestic product figures across Europe to get a clearer picture about the health of the European economy.
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