Asian markets rose Monday after U.S. jobs data helped allay concern the Fed might wind down its stimulus and Japan's prime minister promised new tax cuts, AP reported. Oil gained to stay above $96 a barrel as concern among traders that the U.S. Federal Reserve might speed up the withdrawal of its economic stimulus diminished. Tokyo's Nikkei 225, the regional heavyweight, soared 3.8 percent to 13,363.18 while Hong Kong's Hang Seng Index fell 0.4 percent to 21,509.91. Markets in China and Australia were closed for holidays. Traders were encouraged after a closely watched U.S. Labor Department measure of employment showed the world's largest economy added 175,000 jobs in May, better than the expected 165,000 increase. Also Monday, South Korea's Kospi gained 0.3 percent to 1,928.89 while Taipei's Taiex added 0.8 percent to 8,162.89. Markets in Singapore, Manila and New Zealand also rose. Indonesia's benchmark fell. U.S. and European markets gained Friday on similar expectations for QE to continue. The Dow Jones Industrial average had its best day in five months, gaining 1.4 percent. In currency markets, the euro fell to $1.3196 from $1.3221 late Friday in New York. The dollar edged up to 98.23 yen from 97.43 yen. Benchmark oil for July delivery rose 16 cents to $96.19 per barrel in electronic trading on the New York Mercantile Exchange, up from the previous close of $96.03. The contract added $1.27 on Friday.
