HONG KONG: Asian markets were mixed on Monday but investors remain broadly upbeat after a strong US jobs report that eased concerns about the world's top economy, while the pound edged up at the start of another crucial week in the Brexit saga.
"Valuations are OK, global growth is expected to improve into the second half of the year, monetary and fiscal policy has become more supportive of markets and the trade war is receding," Shane Oliver, investment strategist at AMP Capital Investors, told Bloomberg News.AdvertisementIn early trade Hong Kong was up 0.3 per cent and Shanghai rose 0.5 per cent as dealers returned from a long weekend break, while Sydney also added 0.5 per cent. Taipei and Manila were also up.
On currency markets the pound was slightly higher against the dollar as British Prime Minister Theresa May looks to reach a deal with the opposition Labour Party to avert a hard Brexit, with a second deadline approaching on Friday.
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