Asian Stocks Also Rally, But Oil & Yen Signal Danger, What's Happening This Morning?
Asian markets opened higher, following Wall Street after US jobs data continued risk-on sentiment. Australian, South Korean, and Hong Kong index futures all rose, inspired by the S&P 500's rise and closing at a record high.
The strengthening in the US followed the release of relatively "safe" jobs data: the number of new jobs was slightly below expectations, but the unemployment rate actually fell to 4.4%. This keeps the market confident that the opportunity for an interest rate cut remains, although the pace may be slower.
One major risk remains: Trump's tariff issue has not been "decided" because the US Supreme Court has not intervened. So uncertainty about the tariffs remains, but its effect on the market is somewhat "delayed."
In the currency market, the yen weakened again after closing at its weakest level in a year on Friday. This weakening was also influenced by political speculation in Japan (potential changes in political dynamics), while the dollar moved mixed against developed country currencies.
Commodities are heating up: oil is rising again as protests in Iran intensify and the crackdown intensifies. This situation has the market focused on the risk of supply disruptions, as if the situation in Iran escalates, the impact could change the geopolitical landscape and global energy markets.
Asian technology stocks also have the potential to get a boost after TSMC's earnings report beat expectations, adding fuel to the "AI trade." Today, the market is also monitoring the G7 agenda on rare earths, as well as comments from US central bank officials that could shift interest rate expectations.
5 Key Points
- Asian stocks opened higher, following Wall Street's rally.
- US jobs data was "good enough" to maintain market optimism.
- The risk of US tariffs remains looming, but its impact is being mitigated.
- The yen weakened again, the dollar moved mixed.
- Oil rises due to Iran tensions, with supply risks a key focus. (asd)
Source: Newsmaker.id
