Asian Stocks Rise as 57,000 US Jobs Ease Fed Hike Fears
Updated
Updated · FRANCE 24 English · Jul 3
Asian Stocks Rise as 57,000 US Jobs Ease Fed Hike Fears
3 articles · Updated · FRANCE 24 English · Jul 3
Summary
Seoul’s Kospi jumped 2.8% and Tokyo’s Nikkei 225 gained 0.7% after a weak US June payrolls report gave battered Asian tech stocks a break from recent selling.
Just 57,000 US jobs were added in June—less than half forecast—and prior months were revised lower, suggesting a softer labor market that could let the Fed delay a rate hike.
SK hynix and Samsung led Seoul’s rebound after chipmakers and regional benchmarks had slumped on worries that higher borrowing costs and stretched AI valuations would end the rally.
Rate-hike risk has not disappeared: analysts said the labor market is no longer strong enough to force tightening, but persistent inflation still leaves the Fed focused on price stability.
The shift in rate expectations also kept the dollar under pressure and pushed gold toward $4,200, while oil edged up but stayed near recent lows.