HONG KONG: Asian stock markets climbed on Friday as investors tracked gains on Wall Street while awaiting the release of key U.S. employment data that could influence the Federal Reserve’s interest-rate decisions.
Japan’s Nikkei 225 gained around 0.8%, while South Korea’s Kospi rose about 1.1%. Chinese blue-chip stocks also advanced, and Hong Kong’s Hang Seng Index opened higher, extending a broader regional market rally.
Investor sentiment was supported by comments from Federal Reserve Governor Christopher Waller, who said recent economic data showed signs of easing inflation. He indicated that, if upcoming data confirms the trend, he would favor keeping interest rates steady at this month’s policy meeting.
Markets are now focused on the U.S. nonfarm payrolls report, due later Friday. Economists surveyed by Reuters expect U.S. employers to have added around 56,000 jobs in August, with the unemployment rate forecast to remain at 4.1%.
The softer outlook for U.S. monetary policy has also pressured the dollar and supported the Japanese yen, which has gained about 2.6% this week. Meanwhile, investors continue to monitor elevated oil prices and geopolitical tensions for their potential impact on inflation and global markets.
News as reported.
