World stock markets advanced on Friday after US job growth posted its biggest increase in more than 1-1/2 years, but the US dollar slipped against most peers except the yen as slowing wage gains indicated only a gradual increase in inflation this year.
A planned meeting between North Korean leader Kim Jong Un and US President Donald Trump, and Kim's pledge to refrain from further nuclear or missile tests during the proposed talks, buoyed investor sentiment, boosting stocks in Asia and giving support to crude futures after two negative sessions for oil.
Wall Street led global equity gains as the US labor data landed in a sweet spot for stock investors.
"The great news is the labor participation rate went up, the headline numbers are great, and the average hourly earnings has settled back down into consensus," said Art Hogan, chief market strategist at B. Riley FBR in New York. "It's a great report across the board." The Dow Jones Industrial Average rose 288.05 points, or 1.16 percent, to 25,183.26, the S&P 500 gained 30.28 points, or 1.11 percent, to 2,769.25 and the Nasdaq Composite added 90.43 points, or 1.22 percent, to 7,518.37.
The pan-European FTSEurofirst 300 index rose 0.32 percent and MSCI's gauge of stocks across the globe gained 0.80 percent.
Emerging market stocks rose 1.06 percent. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.91 percent higher, while Japan's Nikkei rose 0.47 percent. The yen fell sharply versus the US dollar after the Bank of Japan stuck to its dovish policy stance and as Kim's denuclearization pledge boosted risk assets.
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