Investing.com-- Most Asian stocks rose sharply on Monday as weaker-than-expected U.S. payrolls data furthered expectations that the Federal Reserve was done with its rate hike cycle, while focus also turned to upcoming economic readings from China.
Regional stocks have been on a tear since Thursday, after the Fed provided somewhat less hawkish signals than markets had feared, bumping up expectations of an end to any more hikes.data on Friday was the biggest proponent of this notion, given that it signaled cooling in the U.S. jobs market, which has been a major pain point for the Fed.
Wall Street indexes surged after Friday's reading, providing a positive lead-in to Asian shares on Monday. Traders were pricing in aTechnology-heavy indexes were the best performers for the day, tracking a sustained decline in the dollar and U.S. Treasuries. South Korea’sgrew more than expected in October. The Nikkei was at an over one-month high, and was set for a fourth straight session of gains after the Bank of Japan also struck a dovish tone last week.on Tuesday.
But the economic weakness is also expected to attract more stimulus measures from Beijing, with the government recently announcing a 1 trillion yuan bond issuance in the fourth quarter.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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