TOKYO – Shares across Asia surged in early trading Friday, following a rally on Wall Street amid signs that the employment picture in the U.S. was brightening.
The Nikkei 225 stock average, Japan's main benchmark, jumped 1.5 percent to 10,739.21, while South Korea's Kospi was up 1 percent at 1,991.31.
Australia's S&P/ASX 200 index rose 1 percent to 4,856.20, and Hong Kong's Hang Seng index rose 1.3 percent to 23,430.30. Benchmarks in Singapore, Taiwan, New Zealand and Indonesia also were up.
Asia's upswing comes on the heels of a strong showing by shares on Wall Street, where the Dow Jones industrial average rose 1.6 percent to 12,258.20 — its biggest gain since Dec. 1. The Standard & Poor's 500 index climbed 1.7 percent to 1,330.97. The Nasdaq composite index gained 1.8 percent to 2,798.74.
In a positive sign for the economy there, the Labor Department said first-time claims for unemployment benefits fell to their lowest level since May 2008. Economists had expected the number to rise.
Separately, the Institute for Supply Management said its measure of hiring by service companies rose to the highest level since April 2006. The index covers a broad range of industries including retail, health care and financial services.
The signs of job growth followed a report Wednesday that private employers added far more jobs than analysts had expected last month. Those gains are raising hopes that Friday's jobs report from the Labor Department will show that the unemployment rate fell from its current level of 9 percent.
Oil prices rose as the unrest in Libya deepened. Benchmark crude for April delivery rose 37 cents to $102.28. The contract gave up 32 cents to settle at $101.91 a barrel on the New York Mercantile Exchange on Thursday.
In currencies Friday, the dollar rose to 82.36 yen from 82.31 yen overnight, while the euro slipped to $1.3955 from $1.3960.
