Asian equities rise as softer US jobs data eases Fed rate-hike pressure

Asian stock markets rallied on Monday following a US jobs report that showed slower payroll growth and a rise in the unemployment rate, easing pressure on the Federal Reserve to raise rates again in October. Japan's market led the surge with a roughly 2% increase, lifting the MSCI Asia-Pacific index by 0.4%, while the Topix and Australia's S&P/ASX 200 also posted gains. US S&P 500 futures ticked up 0.1% and Nasdaq 100 contracts rose 0.3% after the tech-heavy index hit a record high the previous Friday.

Brent crude for December delivery briefly surpassed $103 a barrel, driven by Yemen's announcement to try to recapture Houthi-controlled areas, even as major OPEC+ members left production limits unchanged. Analysts noted that the “Goldilocks” jobs data tempered expectations of back-to-back rate hikes, though bond markets remain volatile amid lingering inflation concerns.