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Asia stocks rise after strong US jobs report

5:01 AM, Mar 11, 2013   |    comments
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BANGKOK (AP) - A strong U.S. jobs report helped propel Asian stock markets higher today.

The U.S. government reported that the unemployment rate fell to 7.7 percent from 7.9 percent in January and that employers added far more jobs in February than expected, despite higher taxes and cuts in government spending.

The good news overshadowed a credit downgrade slapped on Italy by Fitch Ratings Agency on Friday. Fitch said the country's inconclusive election that left no party in clear control of the government harmed the chances of Italy moving ahead with economic reforms.

Benchmark crude oil fell and remained under $92 per barrel. The dollar fell against the euro but rose against the yen.

 

 

 

 

 

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