Asian stocks rise as weak U.S. jobs data eases Fed hike bets; Japan surges

What happened: Asian stocks rose after softer U.S. labor data reduced expectations for further Federal Reserve rate hikes. Japan led the region, with the Nikkei 225 jumping and technology shares gaining. Key numbers: Nikkei 225 up 2.5% to 69,986; TOPIX up 1.4% to 4,146.76; Hang Seng little changed at 23,981.50; Nasdaq 100 Futures down Why it matters: The softer jobs report and slower wage growth prompted money markets to price in a lower chance of an October Fed hike, easing pressure on bonds after a prolonged selloff. The Nasdaq 100 record close reinforced optimism around the AI trade.

Asian stocks rose after softer U.S. labor data reduced expectations for further Federal Reserve rate hikes. Japan led the region, with the Nikkei 225 jumping and technology shares gaining.

The softer jobs report and slower wage growth prompted money markets to price in a lower chance of an October Fed hike, easing pressure on bonds after a prolonged selloff. The Nasdaq 100 record close reinforced optimism around the AI trade.