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Asian Stocks Climb Ahead of Fed Decision
Asian stocks rose today (Monday), supported by a decline in expectations of an interest rate hike by the U.S. Federal Reserve following the release of U.S. labor market data that came in below expectations. This boosted technology shares and eased pressure on the bond market. Japan led the gains, with the Nikkei 225 rising by 2.5% to 69,986 points, and the Topix increasing by 1.4% to 4,146.76 points. Meanwhile, South Korea and China markets remained closed due to holidays. This rise occurred despite U.S. futures declining after the jobs report showed that new employment in September was below expectations, and wage growth slowed, reducing the likelihood of a rate hike in October to less than 25%. Additionally, U.S. Treasury bonds remained stable after yields fell to 5.25%.
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