Asian stock markets rise after weak US hiring data

Asian stock markets are higher after weak U.S. hiring in August fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices

BEIJING -- Asian stock markets rose Monday after weak U.S. hiring in August fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices. Shanghai, Tokyo and Hong Kong, which are the bulk of the region’s market capitalization, advanced. Seoul and Sydney retreated. Wall Street’s benchmark S&P 500 index fell 0.1% on Friday, but still was near a record high, after the Labor Department reported U.S. employers added 235,000 jobs in August, barely one-third of the consensus forecast of 730,000. Investors appeared to welcome that, because the Fed might be prompted to postpone a possible reduction in bond purchases that pump money into the financial system. Officials have indicated the Fed board make a decision about that at a meeting this month but wants to be sure a recovery is established and say employment is a key factor.