2018.06.0404:54:00UTC+00Asian Markets Rally after Solid U.S. Jobs Report

Asian stocks ended higher on Monday, following the gains observed on Wall Street after the released U.S. jobs report on Friday topped expectations and eased trade-related concerns.

The Nikkei 225 noted significant gains, with the benchmark rising 1.37 percent or 304.59 points to settle at 22,475.94 as majority of sectors climbed. Car makers and shippers were some of the best performing sectors, with the prior climbing 2.99 percent. The broader Topix edged up 1.46 percent.

Hong Kong's Hang Seng Index surged 1.51 percent as tech and real estate stocks led the gains.

Gains in other parts of the region were moderate. South Korea's Kospi rose 0.36 percent to 2,447.76. Australia's S&P/ASX 200 edged up 0.59 percent to 6,025.50. The Shanghai composite rose by 0.52 percent to end at 3, 091.19 and the smaller Shenzhen composite recorded a meager 0.09 percent increase to close at 1,747.96.

MSCI's broad index of shares in Asia Pacific, not excluding Japan rose by 1.13 percent in Asia afternoon trade.

The gains observed in the region came after Wall Street ended higher on Friday on the publication of the better-than-projected jobs numbers, with the Dow Jones Industrial average increasing 0.9 percent or 219.37 points to end at 24, 635.21.

In May, the U.S. economy added 223, 000 jobs, surpassing an estimate of 188, 000 in a Reuters poll. The unemployment rate edged down to 3.8 percent, its lowest since April 2000.