Asian stocks opened higher on Friday (3/6) morning trading. At 8:20 a.m. EDT, the Nikkei 225 index was up 252.23 points, or 0.92%, to 27,771.32, the Kospi was up 5.78 points, or 0.25%, to 2,665.27, the ASX 200 was up 54.26 points, or 0.75%. to 7,229.70, the Straits Times rose 15.43 points, or 0.50%, to 3,243.11 and Malaysia's FTSE rose 0.22 points, or 0.01%, to 1,550.12.
Asian stocks rose after US stocks snapped two days of declines ahead of the key jobs report as traders weighed the outlook for inflation and growth.
Stocks in Japan, Korea and Australia rose. Markets in Hong Kong and China were closed, with officials pledging to implement government policies to stimulate the economy.
Citing Bloomberg, investors remain nervous as some fear the pace of US monetary tightening could plunge the country's economy into recession.
The May employment report due on Friday (3/6) local time will likely show the lowest job gain since April 2021, along with a decline in average hourly growth, according to Bloomberg economists.
"We really just need more data, not a single data point, not just jobs data," Carol Schleif, deputy chief investment officer at BMO Family Office LLC told Bloomberg.
"The range of potential yields is wider than ever. We think you're going to see a lot of volatility throughout the summer."
Fed Deputy Governor Lael Brainard said it was difficult to see the case for a pause in rate hikes in September and that 0.5% hikes in June and July seemed reasonable.
source : https://id.tradingview.com/
