Stories
Asian Shares Surge as Easing Fed Bets Boost Markets, Bonds Edge Up
- •Asian stocks rose after softer US jobs data reduced pressure on the Federal Reserve to keep raising interest rates, with MSCI’s Asia Pacific equities index gaining 0.5%.
- •Japan’s Nikkei 225 Stock Average rallied about 2% as technology shares advanced, while Nasdaq 100 futures gained 0.4% after closing at a record high.
- •Brent crude for December delivery slipped 0.2% to about $102 a barrel, and Treasuries rose modestly with the benchmark 10-year yield slipping one basis point to 5.26%.
- •A Brazilian exchange-traded fund in Japan rose 7.6% after Flávio Bolsonaro unexpectedly finished ahead in the country’s presidential election first round.
- •The September US jobs report, described as ‘Goldilocks’ data, showed fewer workers added than forecast and slowed wage growth, leading money markets to price in less than a 25% chance of an October Fed hike.
Key Questions Answered
Asian stocks rose following softer US jobs data, which reduced pressure on the Federal Reserve to keep raising interest rates. Specifically, MSCI's Asia Pacific equities index gained 0.5%, and Japan's Nikkei 225 Stock Average rallied about 2% as technology shares advanced.
A Brazilian exchange-traded fund in Japan surged by 7.6% after Flávio Bolsonaro unexpectedly finished ahead of President Luiz Inácio Lula da Silva in the first round of the country's presidential election. Futures on the real also posted gains following this surprise outcome.
Brent crude for December delivery slipped 0.2% to about $102 a barrel after climbing earlier due to Yemen's bid to recapture Houthi-controlled areas. Meanwhile, US benchmark 10-year Treasury yields slipped one basis point to 5.26% as the soft jobs report provided a reprieve from a months-long bond rout driven by inflation concerns and artificial-intelligence borrowing.
