Asian shares jump on accommodative rates
Asian share markets recorded a positive performance on Monday, with speculations about ultra-low interest rates supporting investors’ sentiment amid receding inflation. Oil and gas prices also advanced after a cyberattack shut a major U.S. pipeline operator.
MSCI’s broadest index of Asia-Pacific shares outside Japan hiked 0.35%, while U.S. stock futures traded 0.24% higher. Australian shares reached a record peak in more than a year as miners gained. Japanese shares soared 0.91%, while shares in China jumped 0.46%.
U.S. nonfarm payrolls data, which showed a deceleration in April, sent equities up. However, the dollar and U.S. Treasury yields were negatively affected. Oil and gasoline, on the other hand, rallied further after a cyberattack that heavily paralyzed a U.S. pipeline operator.