Asian stocks rise as Yen drops on US data, China eyes trade data

Stock market across Asian strengthened as Japanese Yen tumbled on Friday after the US non-farm payrolls data confirmed the economy is on fire.

At the time of writing, Japan’s Nikkei index was up 2%. Australia’s S&P/ASX 200 was up 0.80%, while stocks in New Zealand were up 0.40%. South Korea’s Kospi was up just 0.20%, while shares in China were trading marginally lower ahead of the monthly trade data release.

Friday’s non-farm payrolls data bettered estimates by a wide margin and carried upward revision to the previous month’s figure as well. Wage growth numbers bettered estimates as well. This led to a broad based USD rally and pushed S&P 500 to record high.

China data due today is expected to show another contraction in the exports and imports.