ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Start ups
    • Funding
    • Appointments
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

Asia shares up as US jobs report lowers chance of Fed rate hike

Japan`s Nikkei stock index surged 1% to three-month highs. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Asia shares up as US jobs report lowers chance of Fed rate hike
US nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July. Photo: Reuters

Asian shares rose on Monday, getting a tailwind from gains on Wall Street after a weaker-than-expected US jobs report prompted markets to trim expectations that the Federal Reserve would hike interest rates as early as this month.

MSCI`s broadest index of Asia-Pacific shares outside Japan was 0.5% higher in early trade.

Japan`s Nikkei stock index surged 1% to three-month highs. 

US nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July. Economists polled by Reuters had expected payrolls to rise by 180,000.

"What matters is not whether the markets think that was a strong jobs number, but whether Fed policymakers do," said Mitsuo Imaizumi, chief currency strategist at Daiwa Securities in Tokyo, who noted that Fed Vice Chairman Stanley Fischer said late last month that the US job market was close to full strength.

Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday that the US economy appears strong enough to warrant significantly higher interest rates.

Markets priced in a 21% chance of a Fed interest rate increase this month on Friday, down from 24% the previous day, according to CME Group`s FedWatch program. But the odds for a December hike edged up to 54.2% from 53.6% on Thursday. 

BNY Mellon senior global markets strategist Marvin Loh expects the Fed to hold off on any rate hikes until December, when they can factor in three additional jobs reports as well as the US third-quarter growth report. 

"We will add that we have been fooled by the FOMC on September moves in prior years and vow not to fall into that same trap again," Loh wrote.

Markets were also keeping a watch on the two-day summit of leaders from G20 nations, in Hangzhou, China. Chinese President Xi Jinping said at the open of the summit on Sunday that global economy is being threatened by rising protectionism and risks from highly leveraged financial markets.

The dollar edged down 0.2% to 103.77 yen after rising as high as 104.32 on Friday, its highest since July 29. 

The euro rose 0.1% to $1.1162 ahead of Thursday`s European Central Bank interest rate decision. 

Most economists expect the central bank to hold policy steady, though some believe the ECB could extend its asset buying programme.

Crude prices inched down, paring their robust gains in the previous session amid worries over a global oil glut. 

Brent crude was down 0.6% at $46.53 a barrel while US crude slipped 0.7% to $44.13. Both had gained 3% in the previous session as the dollar slipped after the employment data, making oil cheaper for investors holding other currencies.

But for the week, Brent fell 6%, its biggest drop in five weeks, while US crude fell nearly 7% to mark its largest decline in eight weeks.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
US jobs dataAsian sharesUS Federal Reserverate hikeGlobal MarketsNikeiShanghai
Written By: Reuters
Updated: Mon, Sep 05, 2016
08:33 am
New Delhi, Reuters
RELATED NEWS
US Jobs Data: America's hiring stays brisk as employers add 223,000 jobs in December as economy remains healthy US Jobs Data: America's hiring stays brisk as employers add 223,000 jobs in December as economy remains healthy
US Jobs Data November 2022: Wages rise 5.1%; over 263,000 new jobs added US Jobs Data November 2022: Wages rise 5.1%; over 263,000 new jobs added
Robust September US jobs data dampens mood in Wall Street; Dow 30, Nasdaq Composite, S&P 500 collapse Robust September US jobs data dampens mood in Wall Street; Dow 30, Nasdaq Composite, S&P 500 collapse
Gold Price Today: Yellow metal at month's peak as Treasury yields fall, US jobs data in focus - experts speak Gold Price Today: Yellow metal at month's peak as Treasury yields fall, US jobs data in focus - experts speak
US stocks end higher following grim weekly jobs data US stocks end higher following grim weekly jobs data

LATEST NEWS

India vs New Zealand 2nd T20I Match Live Streaming - When and Where to watch IND vs NZ live today

Tech Mahindra Q3 Results Preview: Net profit likely at Rs 1,300 crore with 50 bps rise in margin

Budget 2023: Govt may not come up with fresh divestment plans; likely to focus on privatisation of already announced PSU firms

FPIs withdraw Rs 17,000 cr from Indian equities in January so far; adopt cautious stance ahead of Budget 2023 and US Fed policy

Traders Guide: 10 things to know before market opens on Monday, January 30 – stocks in news, Q3 results and more

BPCL Q3 Results Preview: State-run oil marketing firm to report profit in December quarter on easing crude oil prices

Market Capitalisation Update: Seven of top-10 BSE listed firms shed Rs 2.16 lakh cr; SBI, HDFC Bank among top losers

Budget 2023: Gems and Jewellery industry body urges government to reduce import duty on cut and polished diamonds

Gujarat Paper Leak: State govt cancels junior clerk exam hours before schedule on Sunday

Adani Group rules out changes in price, dates of FPO; company confident offer share sales going through

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV