Stocks make gains ahead of report

Asian stocks posted modest gains today as skittish investors waited for a key US jobs report later in the week for signs of growth in the world’s largest economy.

The US Labour Department will release employment data for September on Friday.

Economists are not expecting an improvement, but the US economy is looking more resilient, thanks in part to rising car sales and home prices.

Yesterday, US carmakers reported solid increases in sales for September. And the nation enjoyed another year-over-year surge in home prices in August – a sign that the housing industry is making a sustained comeback.

Japan’s Nikkei 225 rose 0.1% to 8,795.10. Hong Kong’s Hang Seng added 0.6% to 20,956.69.

Australia’s S&P/ASX 200 gained 0.2% to 4,439.60, a day after the country’s central bank cut its benchmark interest rate by a quarter percentage point in response to global economic uncertainties.

Markets in mainland China and South Korea were closed for public holidays.