• 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

  • DNA From Greenland Sled Dogs – Maybe The World’s Oldest Breed – Reveals 1,000 Years Of Arctic History
  • Why Doesn’t Moonrise Shift By The Same Amount Each Night?
  • Moa De-Extinction, Fashionable Chimps, And Robot Surgery – No Human Required
  • “Human”: Powerful New Images Mark The Most Scientifically Accurate “Hyper-Real 3D Models Of Human Species Ever”
  • Did We Accidentally Leave Life On The Moon In 2019 – And Could We Revive It?
  • 1.8 Million Years Ago, Two Extinct Humans Had One Of The Gnarliest Deaths In History
  • “Powerful Image” Of One Of The World’s Rarest Tigers Exposes The Real Danger In Taman Negara
  • Evolution, Domestication, And A Lot Of Very Good Boys: How Wolves Became Dogs
  • Why Do Orcas Have White Spots Near Their Eyes?
  • Tomb Of First King Of Ancient Maya City Discovered In Belize
  • The Real Reason The Tip Of Your Tape Measure Wiggles Like That
  • The “Haunting” Last Message From NASA’s Opportunity Rover, Sent From Inside A Planet-Wide Storm
  • Adorable Video Proves Not All Gorillas Hate The Rain. It Might Even Win One A Mate
  • 5,000-Year-Old Rock Art May Show One Of Ancient Egypt’s First Rulers
  • Alzheimer’s-Linked Protein Levels “20 Times Higher” In Newborn Babies – What Does This Mean?
  • Americans Were Asked If They Thought Civil War Was Coming. The Results Were Unexpected
  • Voyager 1 & 2 Could Be Detected From Almost A Light-Year Away With Our Current Technology
  • Dams Have Nudged Earth’s Poles By Over 1 Meter In The Past 200 Years
  • This Sugar Could Be A Cure For Male Pattern Baldness – And It’s Been In Our Bodies All Along
  • “Cosmic Immigrants”: Daytime Star Seen In 1604 May Be An “Alien Type Ia Supernova”
  • 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