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Stocks rise as investors await US jobs data for Fed cues

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Asian shares rose broadly on Friday morning after softer-than-expected U.S. employment data raised the possibility of the Federal Reserve turning less aggressive on its policy tightening stance in coming months.MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.45 per cent, riding on a st

Asian shares rose broadly on Friday morning after softer-than-expected U.S. employment data raised the possibility of the Federal Reserve turning less aggressive on its policy tightening stance in coming months.

On Thursday, the ADP National Employment Report showed U.S. payrolls rising at a slower-than-expected pace last month. "Any deviation from these figures that shows the labour market hanging together better than this might well be negative for equities and vice versa," Carnell said. Markets have locked in consecutive 50-basis-point Fed hikes in June and July but the dollar has been pushed around this week by uncertainty about what happens after that.

 

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