Asian stock markets rise after weak US hiring data

By JOE McDONALD
AP Business Writer

BEIJING (AP) — 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. Shanghai, Tokyo and Hong Kong advanced. Seoul and Sydney retreated. Wall Street’s benchmark S&P 500 index fell 0.1% after the Labor Department reported U.S. employers added barely one-third of the number of jobs expected in August. 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 might decide at a board meeting this month but wants to be sure a recovery is established. They say employment is a key factor.