Asian Shares Follow Wall Street Higher As Rate-hike Worries Ebb

(RTTNews) - Asian stocks followed Wall Street higher on Friday as concerns over U.S. interest-rate hikes eased and focus shifted to the all-important U.S. jobs report later in the day. Economists expect employment to climb by 55,000 jobs in August after a decline of 23,000 jobs in July. The unemployment rate is expected to tick up to 4.2 percent from 4.1 percent. Brent crude futures fell slightly to around $95 a barrel but were up more than 8 percent so far this week due to renewed U.S.-Iran hostilities and elevated concerns over supply disruptions. Iran claimed to have conducted retaliatory strikes on U.S. bases in Kuwait and UAE for a second day in a row even as U.S. President Donald Trump stated that Washington can attack Iran 'anytime we want.' Iranian Vie President Mohammad Reza Aref said that Iran will adopt an "asymmetric" and "multi-layered" response to any future U.S. attacks and warned, "Dark months await the American economy." The Japanese yen headed for its strongest week in a month as traders lifted bets on a Bank of Japan rate hike. The U.S. dollar index slipped while gold edged up to $4,480 an ounce. China's Shanghai Composite index dropped 0.30 percent to 3,930.12 after the securities regulator proposed a major overhaul of the refinancing system. Hong Kong's Hang Seng index surged 1.74 percent to 25,650.87, snapping a four-day losing streak amid gains in major technology and financial shares. Japanese markets rose sharply even as the yen extended gains after posting its biggest single-day advance in more than a month on rising bets for a Bank of Japan rate hike. The Nikkei average jumped 1.26 percent to 65,020.94, snapping a four-session slide. The broader Topix index finished marginally higher at 4,103.23. Tech shares paced the gainers, with SoftBank Group climbing 11.8 percent and Kioxia Holdings adding 5.4 percent, buoyed by falling government bond yields. Seoul stocks rallied as investors cheered the country's strong export figures related to AI. The Kospi index soared 1.64 percent to 6,687.21, with Samsung Electronics, SK Hynix, SK Innovation and S-Oil rising 2-6 percent. Australian markets ended slightly lower as strong Q2 GDP data boosted expectations for another RBA rate hike in September following three rate increases earlier this year. The benchmark S&P/ASX 200 slipped 0.16 percent to 9,005.90, dragged down by mining and energy stocks. The broader All Ordinaries index ended little changed at 9,196. BHP Group shares fell 2.4 percent and Woodside Petroleum dropped 1.2 percent. Nine Entertainment plunged 8.5 percent after WIN Group increased its economic interest in the company. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index surged 0.92 percent to 13,974.18, halting losses in the previous session as traders pushed the odds of next RBNZ rate hike to December from October. U.S. stocks rose overnight while bond yields fell after Federal Reserve Governor Christopher Waller argued in favor of keeping rates unchanged at the upcoming policy meeting. On the economic front, jobless claims rose marginally last week amid low layoffs, signaling a stable labor market. Growth in the services sector accelerated unexpectedly in August but rising input prices pointed to elevated inflation. In geopolitical news, Vice President JD Vance ruled out talks with Iran until it stops attacking commercial shipping in the Strait of Hormuz, adding "all options" remain on the table in dealing with Tehran. The Dow jumped 1.2 percent, the tech-heavy Nasdaq Composite climbed 1.4 percent and the S&P 500 advanced 1.1 percent.

(RTTNews) - Asian stocks followed Wall Street higher on Friday as concerns over U.S. interest-rate hikes eased and focus shifted to the all-important U.S. jobs report later in the day.

Economists expect employment to climb by 55,000 jobs in August after a decline of 23,000 jobs in July. The unemployment rate is expected to tick up to 4.2 percent from 4.1 percent.

Brent crude futures fell slightly to around $95 a barrel but were up more than 8 percent so far this week due to renewed U.S.-Iran hostilities and elevated concerns over supply disruptions.

Iran claimed to have conducted retaliatory strikes on U.S. bases in Kuwait and UAE for a second day in a row even as U.S. President Donald Trump stated that Washington can attack Iran 'anytime we want.'

Iranian Vie President Mohammad Reza Aref said that Iran will adopt an "asymmetric" and "multi-layered" response to any future U.S. attacks and warned, "Dark months await the American economy."

The Japanese yen headed for its strongest week in a month as traders lifted bets on a Bank of Japan rate hike. The U.S. dollar index slipped while gold edged up to $4,480 an ounce.

China's Shanghai Composite index dropped 0.30 percent to 3,930.12 after the securities regulator proposed a major overhaul of the refinancing system.