A sian stocks followed Wall Street higher on Monday after strong U.S. hiring data coupled with scant wage gains suggested a possible recession might be further away, but also that inflationary pressures are weakening.
Tokyo’s benchmark gained almost 2%. Shanghai, Hong Kong and Seoul also rose.
Wall Street’s benchmark S&P 500 index leaped 1.5% on Friday, putting it on the verge of entering what traders call a “bull market” after rising nearly 20% in seven months.
Government data on Friday showed employers hired more people than expected in May but wage gains are slowing. That suggests the economy is strong but upward pressure on inflation might be weakening, reducing the need for the Federal Reserve to cool business activity with more rate hikes.
“Markets appear poised to ride last week’s upward momentum as bubbly risk appetite finds a comfort pillow in hopes for a U.S. soft landing,” Stephen Innes of SPI Asset Management said in a report.
Esta historia es de la edición June 06, 2023 de The Statesman.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 06, 2023 de The Statesman.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
'Respect, trust and care are non-negotiable in a marriage'
People today are at a phase where relationships fail in front of the modern-day challenges. However, in contrast, there are Anup Kumar Roy Choudhury and Lata Roy Choudhury, who set an inspiring example of how relationships are kept alive. Married on 12 July 1976, the couple has spent 48 years together overcoming numerous problems and unexpected trials.
Shadows, light and symphonies: Kim Barbier illuminates Kolkata with Western classical elegance
As the crisp evening air gave a slight shiver, the daylight dwindled with flocks of birds flying back home, and the smell of fall engulfed the city.
Spring in Sandalwood forest
reeparna thinks about Kolkata while seated in her chamber at the Bhagabatpur rural health centre. She believes her best days are being spent in this health centre.
Dev Deepawali: Binding India's spirituality & divinity
Being presented as the \"Festival of Lights for the Gods\", Dev Deepawali is one of the most special events that Varanasi celebrates. It usually takes place fifteen days after Diwali on the full moon day.
A closer look at Justice Sanjiv Khanna's landmark rulings as he takes oath as 51st CJI
Justice Sanjiv Khanna assumed office as the 51st Chief Justice of India on Monday, following Justice DY Chandrachud's tenure.
Have we 'woken' up?
Pundits, politicians, and public commentators intensely debate the election results, I caution against hyperbole and overinterpretation of what was, in reality, a close race, though the margin of victory looks wider than it actually is, due to the special quirk of the electoral college system.
BGT: Team India jolted by Gill's thumb injury ahead of opening Test in Perth
Star opener Shubman Gill picks up injury during practice, creates headache for coach Gautam Gambhir
Paine worried over Gambhir's temperament
Former Australia skipper Tim Paine hit out at Gautam Gambhir for his coaching style ahead of the Border Gavaskar Trophy, and went on to state that he could not be a great fit into the Indian team as head coach.
Samson becomes first batter with 2 T20I tons in single calendar year
Sanju Samson delivered a breathtaking performance of batsmanship at the Wanderers Stadium here on Friday, smashing his third T20I century in the fourth match of the series against South Africa.
Paul Pogba and Juventus agree to terminate contract
Paul Pogba and Juventus have mutually agreed to part ways as the French midfielder faces an 18-month ban from football.
