US-listed shares of overseas companies rose more than 1 percent on Friday as stronger-than-expected US jobs data lifted hopes for a strengthening economy and gave an extra boost to bank ADRs. Financials, the worst-performing sector on the US S&P 500 last year, are among stock groups whose profits benefit from economic improvement.
Among US-listed overseas bank shares, HSBC rose 2.7 percent to $44.34 in New York while Barclays jumped 4.7 percent to $15.10. Shares of Brazil's Banco Bradesco climbed 1.6 percent to $18.59 and shares of Credit Suisse gained 2.9 percent to $29.96. The jobs report also boosted shares of some Latin American commodity-related companies, as well as Mexican telecommunications company America Movil, up 3.5 percent at $24.58, and cement producer Cemex, up 4.3 percent at $8.20. Shares of Brazilian miner Vale were up 1.2 percent at $26.61.
Shares of top Japanese exporter Sony jumped 12.4 percent to $19.21, while shares of Panasonic Corp were up 3.2 percent at $8.11. Traders in Japan said investors were hoping Sony's new CEO would turn things around after the company forecast a $2.9 billion annual loss. The BNY Mellon index of leading American Depository Receipts rose 1.4 percent, while the Standard & Poor's 500 index climbed 1.5 percent.
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