WELLINGTON: Asian stocks will likely rise on Monday, Oct 11 as weak U.S. jobs data was seen backing the case for further stimulus to boost the struggling U.S. economy.
But trade may be more subdued than usual as Japanese markets are closed on Monday for a market holiday.
The main Wall Street indexes gained between 0.5 percent and 0.8 percent on Friday, as the expectation that more money would be pumped into markets by the Federal Reserve trumped the data which pointed to continuing weakness in the world's largest economy.
Agriculture-related shares surged along with U.S. corn and soybean futures after the U.S. Department of Agriculture said the corn crop is likely to be far smaller than expected.
Firms like Caterpillar, Deere & Co and Agco Corp all gained on expectation that U.S. grain farmers will use some of their profits from higher crop prices to buy new equipment.
Asian stocks listed on Wall Street <.BKAS> rose 0.8 percent.
British <.FTSE> shares slipped 0.1 percent, while European <.FTEU3> shares were as strength from commodity stocks largely offset weakness in banks.
The U.S. dollar continued to struggle after the jobs data, falling to a 15-year low against the yen in early trade on Monday, while the euro edged higher.
Australian shares are seen gaining, helped by the strength on Wall Street and firmer metal prices. Share index futures rose 22 points to 4,717, a 35.6 point premium to the underlying S&P/ASX 200 index <.AXJO>. - Reuters
But trade may be more subdued than usual as Japanese markets are closed on Monday for a market holiday.
The main Wall Street indexes gained between 0.5 percent and 0.8 percent on Friday, as the expectation that more money would be pumped into markets by the Federal Reserve trumped the data which pointed to continuing weakness in the world's largest economy.
Agriculture-related shares surged along with U.S. corn and soybean futures after the U.S. Department of Agriculture said the corn crop is likely to be far smaller than expected.
Firms like Caterpillar
Asian stocks listed on Wall Street <.BKAS> rose 0.8 percent.
British <.FTSE> shares slipped 0.1 percent, while European <.FTEU3> shares were as strength from commodity stocks largely offset weakness in banks.
The U.S. dollar continued to struggle after the jobs data, falling to a 15-year low against the yen in early trade on Monday, while the euro
Australian shares are seen gaining, helped by the strength on Wall Street and firmer metal prices. Share index futures
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