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Asian stock markets mixed ahead of latest US jobs reading

September 2, 2022

Via: ABC News

Asian stock markets were mixed Friday ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging inflation.

Shanghai and Seoul advanced while Tokyo and Hong Kong retreated. Oil prices rose more than $1.50 per barrel.

Investors looked ahead to U.S. data on August hiring to see how the economy is responding to four earlier hikes to cool inflation that is at a four-decade high. A strong reading would give ammunition to Fed officials who say higher interest rates are needed to slow economic activity and reduce upward pressure on consumer prices.

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