Asia Markets: Japanese stocks lead jump in Asian markets

Strong U.S. jobs data sent Asian stock markets higher on Monday, with the yen’s decline driving sharp gains in Japan’s Nikkei Stock Average.

The Nikkei NIK, +2.44% jumped 2.4% while Australia’s S&P/ASX 200 XJO, +0.73% was up 0.7%. Hong Kong’s Hang Seng Index HSI, +1.57% rose 1.6%, and South Korea’s Kospi SEU, +0.65% rose 0.7%.

In China, the Shanghai Composite Index SHCOMP, +0.93% added 0.9%, thanks to a surge in coal stocks after data showed China succeeded in cutting output in the first half. Stocks also rallied after the banking regulator expressed support for debt-to-equity swaps at large steel and coal companies, which would prop up those weakened by the multiyear collapse in coal and steel prices.

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