Asian Stocks Eye Early Gains After US Jobs Report: Markets Wrap

-- Most Asian stocks are set to open higher in early trading after strong US jobs data underscored the health of the world’s largest economy and boosted soft landing hopes.Australian shares and Japan equity futures rose while contracts in Hong Kong slipped. US contracts edged higher early Monday after the S&P 500 rose 0.9% on Friday. The dollar was steady following its best week in two years as Treasury yields surged amid recalibrated bets on the size of the Federal Reserve’s next rate cut.

Asian currencies, however, are set to further unwind last quarter’s rally after a gauge of the dollar climbed 0.4%, pressuring emerging market peers. The Korean won slumped more than 1% after the jobs report while currency forwards for the Indonesian rupiah, Philippine peso and Thai baht all fell, indicating early losses when spot markets reopen.

Elsewhere in Asia, New Zealand bonds fell less than Treasuries as markets anticipate the nation’s central bank will cut interest rates by 50 basis points on Wednesday. Australia’s bond market was closed for a holiday in Sydney. Two people have died and at least eight have been injured after an explosion near a major airport in Pakistan, officials have said.Pat Surtain II picked off a pair of passes and his 100-yard interception return for a touchdown powered the Denver Broncos past the injury-riddled Las Vegas Raiders 34-18 on Sunday, snapping an eight-game losing streak in the storied AFC West series. Rookie Bo Nix had a breakout day with a pair of touchdown passes after coming into the game with just one.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian shares rally, encouraged by Wall Street storming back from an early slideTOKYO (AP) — Asian shares mostly rose on Thursday, encouraged by gains on Wall Street led by a handful of influential Big Tech companies.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks mixed as investors keep watchful eye on economyNow that the Fed has started cutting rates, the economy has taken to the fore for investors.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Mostly Higher as Rate Decisions LoomAsian markets saw mostly gains on Monday, fueled by recent interest rate decisions from major economies like the US, Japan, China, and Britain. Chinese stocks surged after a central bank rate cut, while the Japanese yen weakened following the Bank of Japan's decision to maintain its benchmark rate. Australia's market dipped ahead of its Reserve Bank meeting.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Under Pressure Ahead of Fed Decision: Markets Wrap(Bloomberg) -- Most Asian stocks were poised for declines early Tuesday following a mixed session on Wall Street where traders boosted bets the Federal...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Poised to Fall as China Economic Worries GrowConcerns over the health of the Chinese economy are driving Asian stock markets lower on Monday, while US equity futures remain steady. Factors contributing to the bearish sentiment include government spending cuts in China, a rising youth unemployment rate, and potential new US regulations banning Chinese hardware and software from connected vehicles.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »