Asian shares advance after softer U.S. jobs data dials back Fed hike bets
AI Market Summary
Softer US jobs data and a rise in the unemployment rate to 4.2% reduced near-term Fed tightening expectations, with markets pricing less than a 25% chance of an October hike. The resulting drop in perceived policy risk supported risk assets across Asia, lifting MSCI Asia-Pacific and driving a strong rebound in Japanese equities. Attention now shifts to the Oct 7 Fed minutes for confirmation on inflation and policy bias.
Impact level
● Medium
Affected assets
NCSINIKKEI2252USD/USDT+0.25%
AI Insight · NCSINIKKEI2252USD/USDTAI Insight
▲ Bullish
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Asia-Pacific equities moved higher after weaker U.S. employment figures and an uptick in the jobless rate to 4.2% eased expectations for further Federal Reserve tightening. Money markets are pricing the probability of a Fed rate increase in October at below 25%, supporting risk sentiment across the region. The MSCI Asia Pacific Index rose 0.4%. Japan's Nikkei 225 jumped 2.03% and the Topix gained 1.11%. The Fed is scheduled to release minutes from its September meeting on October 7, offering more detail on policymakers' assessment of inflation trends.
