Asian Shares Rise

By SHRI NAVARATNAM

SINGAPORE—Asian stock markets rose on Monday after an upbeat jobs report from the U.S. suggested the recovery in the world’s biggest economy was picking up pace, driving cyclical stocks higher and buoying the U.S. dollar.

There was some caution in markets as Greek debt restructuring talks dragged on, keeping the euro under pressure.

Still, regional investors worked off positive cues from Wall Street after Friday’s above-view U.S. jobs data, which drove the Nasdaq Composite to an 11-year high and pushed the Dow Jones Industrial Average to its highest close in nearly four years.

Renewed concerns recently “over the slow U.S. economy have been overturned by the latest jobs data, euro zone fears are easing, and there’s abundant liquidity being pumped in by developed nations all over the global stock markets,” said Samsung Securities analyst Park Seung-jin in Seoul. “If Greece finalizes talks with the private sector over its debt issue, there could be an even stronger rally.”

Japan’s Nikkei Stock Average rose 1.2%, Australia’s S&P/ASX 200 advanced 1.2%, and South Korea’s Kospi Composite tacked on 0.7%. Markets in New Zealand were closed for a public holiday.

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