Photo: AFPTokyo: Asian shares rose on Monday, getting a tailwind from gains on Wall Street after a weaker-than-expected US jobs report prompted markets to trim expectations that the Federal Reserve would hike interest rates as early as this month. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5% higher in early trade. Richmond Federal Reserve Bank president Jeffrey Lacker said on Friday that the US economy appears strong enough to warrant significantly higher interest rates. Markets priced in a 21% chance of a Fed interest rate increase this month on Friday, down from 24% the previous day, according to CME Group’s FedWatch program. The euro rose 0.1% to $1.1162 ahead of Thursday’s European Central Bank interest rate decision.

Source: Mint September 05, 2016 02:26 UTC