Asian Share Market Rises on Weak US Jobs Report, Oil Prices Climb
Summary
Asian share markets rose after a weak US jobs report eased fears of an immediate interest rate hike, while oil prices climbed on stalled peace talks in the Gulf region. Investors are now watching this week’s US inflation data for clues on the Federal Reserve’s next move.
Key Points
- Asian share markets climbed on Monday after a weak US jobs report lowered expectations of an immediate US interest rate hike.
- Brent crude and US crude prices rose as peace talks in the Gulf region made little progress and shipping through the Strait of Hormuz remained slow.
- The upcoming US July consumer price report has become crucial for judging whether the Federal Reserve may raise rates in September.
- Japan’s Nikkei and South Korea’s stock index both posted gains, while the broader Asia-Pacific index excluding Japan also rose.
