U.S. Jobs Data and its Impact on Stocks in Asia

On Monday, stocks in Asia benefited from the information that U.S. jobs data showed an unexpected jump, and let’s have at stocks across Asia.

For example, in Japan, the Nikkei 225 added 1.37% to close at 23,178.10 as shares of robot maker Fanuc gained 4.01%. In the meantime, the Topix index gained 1.13% to end its trading day at 1,630.72.

Moreover, mainland Chinese stocks saw gains on June 8. The Shanghai Composite gained 0.24% to around 2,937.77. At the same time, the Shenzhen Component advanced 0.314% to 11,215.76.

Also, South Korea’s Kospi index gained 0.11% to close at 2,184.29.

Airlines stocks on June 8

Unfortunately, airlines across the world are trying to stay afloat and to change their business models. For example, some of them made the decision to reduce the number of employees. It is hard to make such decisions. However, international air travel all but disappeared as governments imposed travel restrictions.

On Monday, shares of Air New Zealand jumped 9.15%. The carrier announced a target to return to healthy profits by late August 2022. Hopefully, Air New Zealand was not the only carrier that had a good day. Japan Airlines’ stock in Japan gained about 3%. Furthermore, Korean Air Lines in South Korea rose 0.49%.

Shares of Singapore Airlines dropped earlier gains to fall 1.62% in afternoon trade. Notably, the moves came after the company announced it raised more than 10 billion Singapore dollars ($7.18 billion) in fresh liquidity.

The once-thriving aviation industry is struggling to deal with numerous problems created by the coronavirus pandemic. It will take more than a year to solve all the issues associated with the pandemic. Hopefully, it was a good day for Air New Zealand, which is the flag carrier of the country. Airlines are working hard to adapt to the new reality, by reducing the number of planes as well as by implementing other steps.