• 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

  • Impact That Made Meteor Crater May Have Triggered Giant Grand Canyon Landslide
  • Get Ready, Skywatchers: A “Dazzling” Total Lunar Eclipse Is Coming In 2025
  • How A Man Won The Lottery 14 Times Using Unbelievably Basic Math
  • What Are The Amazon’s “Flying Rivers”? And Why Every Single One Of Us Relies On Them
  • Curious New Microbe With Tiny Genome Toes The Line Between Cell And Virus
  • We’ve Just Found Out Where The World’s Longest-Living Vertebrate Has Its Babies
  • For The First Time, An Animal Has Been Shown Responding To Plant-Produced Sounds
  • Deep Ocean Currents Have “Weather” And Seasonal Changes That We’re Only Just Learning About
  • Stratus: What Are The Symptoms Of The Latest COVID-19 Subvariant To Spread Around The World?
  • In 1927, Henry Ford Tried To Build A Town In The Amazon And Things Went Very, Very Badly
  • Human Botfly: Say Hello To The Parasite That Would Love To Get Under Your Skin
  • Is The Weather Making Your Headache Worse?
  • “Zoning Out” Actually Helps You Learn? Data From Up To 90,000 Brain Cells Says So
  • Over Past 250,000 Years, Three Major Waves Of Human-Neanderthal Interbreeding Have Been Identified
  • Zebrafish “Catch” Yawns Just Like Us – We Might Need To Rethink Evolution To Account For That
  • 80,000-Year-Old Neanderthal Footprints Reveal How Children Hunted On Beaches
  • 5 Animals That Have Absolutely No Business Jumping (In Our Very Humble, Definitely Unbiased Opinion)
  • Polar Vortex Patterns Explain Winter Cold Snaps Against Background Warming Trend
  • Scientists Tracked An Olm For 2,569 Days And It Did Not Move An Inch
  • Look Out For “Fireballs”: The Best Meteor Shower Of 2025 Is About To Commence, According To NASA
  • 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