Japan's Nikkei Surges 3.19% to 39,000 Points on Strong US Jobs Report, Asia Stocks Rally

Oct 7, 2024, 12:26 AM

Japan's Nikkei share average surged by 3.19%, reaching 39,000 points for the first time since September 30, driven by a stronger-than-expected US jobs report. The yield on the 10-year Japanese Government Bond (JGB) rose by 3 basis points to 0.91%, the highest since September 3. This robust jobs report has also led to advances in other Asia-Pacific markets, with the ASX 200 up 0.1% and the Nikkei 225 up 2.1%, while the KOSPI declined by 0.3%. The yen weakened to the 149 level against the dollar, further bolstering Japanese stocks. The Asia stock rally was also influenced by Wall Street gains.