Asian stocks climb as Fed rate-hike odds fall to 50%

  • Asian stocks rose on Friday, led by technology shares after Wall Street gained.
  • Fed rate-hike probability fell to about 50% from 63%, according to CME FedWatch.
  • Investors awaited Friday’s U.S. nonfarm payrolls report, with unemployment expected at 4.1%.

Asian stock markets advanced on Friday, led by technology shares, after Wall Street rallied as Federal Reserve Governor Christopher Waller eased concerns about an imminent U.S. interest-rate increase. Markets cut the implied probability of a rate hike this month to about 50% from 63% earlier, according to CME FedWatch. Japan’s Nikkei rose more than 1%, South Korea’s KOSPI gained 1.4% and Hong Kong’s Hang Seng jumped 2.2%, while SoftBank Group surged more than 10%. Investors remained focused on the U.S. nonfarm payrolls report due later Friday; the unemployment rate is expected to hold at 4.1%. A weak report could reinforce expectations for unchanged Fed rates, while a stronger result could revive rate-hike bets. Brent crude remained near $96 a barrel and was up about 7% for the week as tensions and uncertainty around energy flows through the Strait of Hormuz kept inflation risks elevated.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.