• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Asian shares hold gains, dollar weak ahead of major U.S. jobs data

September 3, 2021 by David Barret Leave a Comment

September 3, 2021

By Alun John

HONG KONG (Reuters) – Asian shares held their gains on Friday while the dollar was at a month low against major peers as traders awaited U.S. employment data with global shares at record highs.

MSCI’s broadest index of Asia-Pacific shares outside Japan was broadly flat in early trading in Asia having posted gains in eight of the last nine sessions as the benchmark edges back towards its position in mid July before Chinese regulatory crackdowns sent shares tumbling.

Japan’s Nikkei rose 0.38%, and MSCI’s all-country world index edged higher having ended the previous session at its fifth consecutive closing high.

Australia was up 0.3% and Korea rose 0.61% while Chinese blue chips fell 0.27% and Hong Kong dropped 0.6% right after the bell, as traders try to balance weaker economic data out of China against the potential for future stimulus.

Investors anticipate that Beijing will accelerate fiscal spending and credit growth as its economic recovery slows, but that such measures will be finely targeted as the U.S. Federal Reserve prepares to taper its own stimulus.

Traders are hoping to get a better sense of the timing and pace of U.S. tapering on Friday after U.S. non-farm payroll data is published later in the day, as Fed Chair Jerome Powell has suggested an improvement in the employment numbers is the remaining major prerequisite for action.

According to a Reuters survey of economists, non-farm payrolls likely increased by 750,000 jobs last month after rising by 943,000 in July.

“When it comes to tapering the focus is now the labour market. If we’re in the area of 750,000 the expectation will be for a September tapering announcement,” said Stefan Hofer, chief investment strategist at LGT private bank in Asia.

Hofer said he was focused on leisure and hospitality jobs as they were a good indicator of the state of the recovery from the COVID-19 pandemic.

U.S. treasuries have been cautious ahead of the data release, and in Asian hours on Friday the yield on benchmark 10-year Treasury notes was 1.2919% compared with its U.S. close of 1.294% on Thursday.

The dollar stayed pinned at month lows against a basket of currencies, with the euro doing a fair amount of the work.

The European single currency touched its highest level since early August against the greenback on Friday, as markets start to react to the potential for more sustained eurozone inflation and reduced stimulus from the European Central Bank.

“The persistence of the increase in input inflation will provide more substance to arguments that the ECB should soon start to dial back its asset purchases,” analysts at ANZ said.

Oil prices fell in early Asian hours having risen by more than $1 a barrel on Thursday.

U.S. crude dipped 0.36% to $69.74 a barrel. Brent crude fell 0.27% to $72.81 per barrel. [O/R]

(Editing by Stephen Coates)

Source Link Asian shares hold gains, dollar weak ahead of major U.S. jobs data

David Barret
David Barret

Related posts:

  1. “Our Mikis has gone”: ‘Zorba the Greek’ composer Theodorakis dies at 96
  2. WTO chief seeks fishing, pandemic accords by year end
  3. 5 Star Wars games we’d love to see on PC
  4. Amazon Labor Day sales 2021: the best early deals

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Bright Northern Lights Across America Expected This Week As 3 Coronal Mass Ejections Fly Towards Earth
  • Brain Implant Enables Paralyzed Man To Feel And Use Objects Using Someone Else’s Hands
  • “This Is A Really Big Deal”: Brain Training Significantly Improves Key Neurochemical Levels In World First
  • “Wholly Unexpected”: First-Ever Fossil Paranthropus Hand Raises Questions About Earliest Tool Makers’ Identity
  • For Centuries, Nobody Knew Why Swiss Cheese Has Holes. Then, The Mystery Was Solved.
  • Scientists Studied The Infamous “Chicago Rat Hole” And They Have Some Bad News
  • Massive 166-Million-Year-Old Sauropod Footprints Become The Longest Dinosaur Trackway In Europe
  • Do Spiders Dream? “After Watching Hundreds Of Spiders, There Is No Doubt In My Mind”
  • IFLScience Meets: ESA Astronaut Rosemary Coogan On Astronaut Training And The Future Of Space Exploration
  • What’s So Weird About The Methuselah Star, The Oldest We’ve Found In The Universe?
  • Why Does Red Wine Give Me A Headache? Many Scientists Blame It On The Grape Skins
  • Manta Rays Dive Way Deeper Than We Thought – Up To 1.2 Kilometers – To Explore The Seas
  • Prof Brian Cox Explains What He Finds “Remarkable” About Interstellar Object 3I/ATLAS Story
  • Pioneering “Pregnancy Test” Could Identify Hormones In Skeletons Over 1,000 Years Old
  • The First Neolithic Self-Portrait? Stony Human Face Emerges In 12,000-Year-Old Ruins At Karahan Tepe
  • Women Are Diagnosed With ADHD 5 Years Later Than Men, Even With Worse Symptoms
  • What Is Cryptozoology? We Explore The History And Mystery Of This Controversial Field
  • The Universe’s “Red Sky Paradox” Just Got Darker: Most Stars Might Never Host Observers
  • Uranus And Neptune May Not Be “Ice Giants” But The Solar System’s First “Rocky Giants”
  • COVID-19 Can Alter Sperm And Affect Brain Development In Offspring, Causing Anxious Behavior
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version