Asian stock markets rise after jobless report

By PAN PYLAS
The Associated Press
Businessmen are reflected in the electric stock board of a securities firm in Tokyo Monday, March 1, 2010. Asian stock markets advanced Monday, with Hong Kong's index up nearly 2 percent, after China said manufacturing continued to grow last month albeit at a slower pace. Nikkei 225 stock average ended at 10,172.06, up 46.03 points.
Koji Sasahara
Businessmen are reflected in the electric stock board of a securities firm in Tokyo Monday, March 1, 2010. Asian stock markets advanced Monday, with Hong Kong's index up nearly 2 percent, after China said manufacturing continued to grow last month albeit at a slower pace. Nikkei 225 stock average ended at 10,172.06, up 46.03 points.

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Asian stock markets mostly gained ground in early Tuesday trading after U.S. markets climbed to their highest levels in more than a month and Japan reported its unemployment rate fell in January.

Most markets rose except in Japan, where the Nikkei 225 stock average is down about 2 points to 10,169.

That followed news that Japan's unemployment rate fell to 4.9 percent in January, easing for the second consecutive month, the government. It was 5.1 percent in December.

Shanghai's market was up 5 points, or 0.2 percent, at 3,094.

Australian stocks, meanwhile, rose about 15 points to 4,701. The country's central bank is expected to raise its benchmark interest rate Tuesday.

In South Korea, the Korea Composite Stock Price Index, or Kospi, is up 22, or 1.4 percent, to 1,617.

Singapore added 13 points to 2,787, while Taiwan added 62 points to 7,639.

U.S. markets rose Monday after insurer American International Group Inc. announced it would sell its prized Asian life insurance business and investors hoped for a bailout deal for Greece.

Posted in: Business-Economic