Asian Markets Were Trading Firm After Data Showed The US Unemployment

Asian markets were trading firm after data showed the US unemployment rate dropped to the lowest in almost 50 years, easing concerns of a slowdown in the world’s largest economy.

Trends on SGX Nifty indicate a positive opening for the broader index in India. Around 0755 hours IST, the Nifty futures were trading at 11,216-level, up 10 points or 0.09 percent, on the Singaporean Exchange.

US markets rallied on Friday after moderate job growth in September offered relief from a spate of dismal economic data this week that has rankled markets and fueled concerns the world’s largest economy may be sliding into a recession.

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