Asian Shares Are Higher as Easing Worries over Inflation Reduce Odds for Another Fed Rate Hike
Japan's benchmark rose 2.5% as soft U.S. jobs data eased rate-hike worries and lifted Wall Street and regional tech shares.
- Japan's benchmark Nikkei 225 jumped 2.5% in morning trading to 70,037.61, marking the benchmark's first foray above 70,000 points in three months.
- Asian shares advanced during Asia Monday following American stocks that finished near an all-time high last week after promising job market data.
- Interest in shares related to Big Tech drew buying interest in Japan; Tokyo Electron gained 5.5% and SoftBank Group shares rose 3.3%.
- The 10-year Treasury yield briefly dropped below 5.17% before bouncing back to 5.28%, as investors remain encouraged by easing inflation worries reducing the likelihood of another Federal Reserve rate hike.
- Benchmark Oil lost 1.03% to $90.17 a barrel, while Brent crude inched down 0.58% to $101.66, as prices fluctuate amid uncertainty about how the war with Iran will reshape the global oil industry.
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Asian shares are higher as easing worries over inflation reduce odds for another Fed rate hike – WTOP News
TOKYO (AP) — Asian shares advanced Monday at the start of a busy week for U.S. economic updates. Investors have been encouraged by easing worries over inflation, which reduces the likelihood of another rate hike by the Federal Reserve. Japan’s benchmark Nikkei 225 jumped 2.5% in morning trading to 70,037.61. It was the benchmark’s first...
Asian markets are trading well on Monday morning after US jobs data on Friday turned out worse than expected, easing some of the pressure on the US central bank, the Federal Reserve, to raise interest rates.
Asian stock exchanges start the week with a predominance of purchases after Wall Street profits and U.S. employment data that lower pressure on the Federal Reserve.
Global markets started the new week on a positive note. Weak US employment data reduced the likelihood of a Fed rate hike in October, pushing the Nikkei up 2.5%; US and European futures are also trading in positive territory.
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