Asian stocks gain amid falling oil and weak U.S. jobs
Asian stocks rose as bonds stabilized and oil prices declined, following weaker US jobs data that diminished the likelihood of a Federal Reserve interest rate hike. The figures showed a decrease in monthly job additions, prompting markets to assign less than a 25% chance of a rate increase in October. The MSCI Asia-Pacific Index increased by 0.9%, driven by gains in technology stocks. The Nikkei rose by 2.5%, supported by growth in semiconductor shares. Meanwhile, Brent crude prices fell by 0.7% to $101.50 per barrel. US Treasury bonds edged higher, with the 10-year yield dropping to 5.25%. Experts anticipate that the new data will reduce expectations of an American rate hike, boosting market sentiment, gold prices rose, and the dollar strengthened against the euro.
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