Asia stocks firm as upbeat US, European data boosts confidence

Employers added just 138,000 jobs last month, missing analysts' expectations for a 185,000 gain. The U.S. economy created 66,000 fewer jobs than previously reported in March and April.

MSCI's all-country world stock index hit a new record, gaining 0.5 percent, as did British shares as financial stocks lifted the FTSE 100 index of top United Kingdom blue chips before paring gains.

"A drop below here could see USDJPY in particular challenging lower, especially if this is accompanied by a bit of risk off in equity markets", Hardy added. Germany's DAX index also set new highs. United States stocks advanced yesterday, with each of the major U.S. indexes notching record highs, after a batch of economic data suggested the economy was picking up speed. At 10:47 a.m. ET, the Dow Jones Industrial Average .dji was up 17.86 points, or 0.09 percent, at 21,026.51, the S&P 500 .spx was up 3.4 points, or 0.14 percent, at 2,415.2.

MSCI's broadest index of Asia-Pacific shares outside Japan.MIAPJ0000PUS ticked up 0.1 percent, while Japan's Nikkei .N225 gained 1 percent to top the psychologically important 20,000-point level for the first time since August 2015.

The greenback fell to seven-month troughs against the euro and Swiss franc, while sliding to a two-week bottom versus the yen.

Experts said it was unlikely to derail an expected interest rate hike later this month from the US Federal Reserve - which would be its second this year - though the Fed's later plans looked less assured.

Tearful Kvitova puts trauma of knife attack behind her
Kvitova moves into the second round to face the victor of the match between Bethanie Mattek-Sands and Evgeniya Rodina . Top of the list, and still ranked No2, was three-time victor Serena Williams, now expecting her first child.

"It bodes well for the Fed; certainly the numbers are very, very high in terms of the likelihood of that (hike) coming through for June".

The dollar index, tracking the unit against key foreign currencies, fell to a seven-month low and was last down 0.44 percent at 96.774 .DXY The euro was 0.50 percent higher against the dollar to $1.1267.

About 6.89 billion shares changed hands in USA exchanges, compared with the 6.72 billion daily average over the last 20 sessions.

Brent crude dipped below $50 and headed for a second week of losses on worries Trump's decision to abandon a climate pact could spur USA drilling and worsen a global oil glut.

By comparison, the US added 615,000 jobs between February and April of past year, and 586,000 jobs in 2015.

Long-dated U.S. Treasury yields fell to almost seven-month lows while short-dated yields touched their lowest in more than two weeks after the U.S. employment data suggested a cautious Fed policy beyond June. The ISM manufacturing PMI index rose to 54.9 in May from 54.8 in April.

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