TOKYO — Shares jumped and the dollar pared recent gains on Monday as Asian markets reacted to better-than-expected US jobs data ahead of talks in London aimed at mending a trade rift between the United States and China.
Wall Street stocks had closed sharply higher on Friday after the jobs data eased concerns about damage to the world’s biggest economy from President Donald Trump’s unpredictable tariff regime. Safe-haven assets such as gold remained lower after steep selloffs.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 percent in early trade on Monday. Hong Kong’s Hang Seng Index surged 1.3 percent, touching the 24,000-point level for the first time since March 21. Japan’s Nikkei stock index rose 0.9 percent.
At the same time, a standoff in Los Angeles that led to Trump calling in the California National Guard to quell demonstrations over his immigration policies weighed on sentiment.
The dollar slid 0.3 percent against the yen to 144.39, trimming its 0.9 percent jump on Friday. The European single currency was up 0.2 percent on the day at $1.1422.
Top trade representatives from Washington and Beijing are due to meet for talks expected to focus on critical minerals, whose production is dominated by China. The discussions follow a rare call last week between Trump and Chinese President Xi Jinping.
“Trade policy will remain the big macro uncertainty,” said Kyle Rodda, a senior financial market analyst at Capital.com. “Signs of further momentum in talks could give the markets fresh boost to kick-off the week.”
US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, Trump said in a social media post. China’s foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-US economic and trade consultation mechanism.
