Skip to content
Subscriber Only

Asian Stocks Rise on U.S. Jobs Data; Japan Shares Rally

Asian stocks rose, with the regional benchmark index heading for the biggest rally in more than a week, after a report showed the U.S. added more workers than expected. Japanese shares surged after a three-week, $600 billion rout.

Japan’s Topix index jumped 5.2 percent, the most since March 2011, after the Government Pension Investment Fund, the world’s biggest manager of retirement savings, said on June 7 it will sell bonds to buy more equities. Toyota Motor Corp., the No. 1 global carmaker, gained 8.6 percent. Yue Yuen Industrial Holdings Ltd., a shoemaker that gets 29 percent of its revenue in the U.S., rose 2.7 percent in Hong Kong. Sharp Corp. jumped 15 percent after Qualcomm Inc. agreed to a second purchase of the unprofitable Japanese TV maker’s shares.