Asian markets round-up: Barring Korea, most bourses in the green after positive US jobs report

Barring South Korea's Kospi, Asian markets were trading in the green on 7 December, following a positive US jobs report which showed that 211,000 jobs were created by the US economy in November. The numbers beat market expectations.

The development could further lend weight to moves by the Fed to raise rates. A decision is expected to be taken at its policy meeting scheduled later this month.

Shane Oliver, head of investment strategy and chief economist at AMP Capital, who opined that a potential Fed rate increase could be modest, said: "The hike when it comes will be a sign of how the US has recovered since the GFC [global financial crisis]; and that subsequent rate hikes will likely be gradual and tied to progress in lifting inflation back towards the Fed's target."

Australia's S&P/ASX 200 closed up 0.08% at 5,155.70, following the index shedding three-week gains on 4 December. China's Shanghai Composite index was up 0.23% at 3,533.09, as Beijing is expected to announce economic data this week including trade numbers, consumer and producer price indexes, industrial production and retail sales.

Hong Kong's Hang Seng was 0.32% higher at 3,536.15, while India's Nifty was up 0.02% at 7,783.70. Japan's Nikkei 225 was up almost a percentage point at 19,698.15, ahead of the latest GDP data and machinery order figures this week. South Korea's Kospi slid 0.54% and was trading at 1,963.67. Bank of Korea is expected to announce its monetary policy later this week.

In commodities, oil prices slipped. WTI crude oil was trading at $39.63 a barrel, down 0.85% while Brent crude was trading lower by 0.53% at $42.77 a barrel.