Asia stocks jump as fed bets revised after lackluster jobs data

Asian markets rallied on Monday after Friday's US jobs report showed a much weaker rise in employment last month than expected, leading many economists to believe the Federal Reserve will delay tightening policy till next year.

A dovish tone consumed markets on Friday when US job growth data underwhelmed, sending the US dollar lower but boosting stocks as investors cheered the likelihood of ongoing stimulus from the Federal Reserve.

Japan's benchmark Nikkei 225 index rallied 1.38% to 17,970.05 points within the first hour of trade, while Tokyo's broader Topix gauge jumped 1.12% to 1,461.14 points.

Korea's benchmark Kospi index jumped 1.26% to 1,994.56 points on Monday morning in Seoul, while New Zealand's benchmark S&P/NZX 50 index rose 0.57% to 5,625.18 points this afternoon in Wellington.

Mainland China and Australia markets were closed on Monday for public holidays.