{
  "id": 247136,
  "title": "Asian shares pause for US jobs, oil extends gains on Mideast risk",
  "url": "https://urgent.news/2026/08/07/asian-shares-pause-for-us-jobs-oil-extends-gains-on-mideast-risk",
  "topic": "world",
  "section": "World",
  "published": "2026-08-07T02:36:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/08/07/asian-shares-pause-for-us-jobs-oil-extends-gains-on-mideast-risk"
  },
  "original_language": "en",
  "account": "Asian shares paused on Friday, awaiting the release of US jobs data that could significantly impact the Federal Reserve's interest-rate decision in the following month. Concurrently, the rise in oil prices served as a reminder that tensions in the Middle East persist. MSCI's broadest index of Asia-Pacific shares outside Japan showed no significant movement, remaining flat for the week. Japan's Nikkei experienced a slight decline of 0.9%, although it was poised for a weekly gain of 1.2%. South Korea's KOSPI witnessed a decline of 0.5% and was also down 5.0% for the week, marking its seventh consecutive week of losses. China's CSI 300 index, meanwhile, rose by 0.2%.\n\nAfter periods of volatility driven by concerns over the sustainability of the AI-driven rally, investors have redirected their focus towards the US payrolls report scheduled later in the day. This report is expected to be a critical factor in determining the trajectory of interest rates. Forecasts anticipate a rise of 80,000 jobs for July, following a 57,000 increase in June, with the unemployment rate expected to remain steady at 4.2%. The Federal Reserve's potential rate hike remains uncertain, with analysts viewing it as a 50/50 proposition. \"With yields and inflation still the primary risks for stocks, we anticipate Friday's NFP to be interpreted as 'good news is bad news,'\" stated Michael Feroli, JPMorgan's chief US economist. He added that a robust jobs report would bolster the case for sustained rate hikes, while a weak report could encourage equities as yields ease and policymakers consider a more dovish stance. Nasdaq futures remained unchanged, while S&P 500 futures slipped by 0.1%.\n\nEuropean stock markets are expected to open lower, with pan-European stock futures declining by 0.2%. Oil prices continued to climb as tensions escalated in the Middle East following Yemen's Houthis' attack on Saudi Arabia, a key oil exporter. Riyadh has warned that coordinated strikes by Houthis and Iran-backed Iraqi militias are imminent. Brent crude futures increased by 1% to US$83.38 a barrel, following a 3.8% surge the previous day. However, they were still on track for a weekly decline of 7.5% and were well below their recent high of US$102 a barrel two weeks ago. Iran is currently reviewing a draft bill that could prohibit US, Israeli, and other \"hostile\" vessels from passing through the Strait of Hormuz, imposing fines up to 20% of a ship's cargo value for any violations. The higher oil prices contributed to an uptick in Treasury yields. The 2-year note yield was at 4.2496% in Asia, having risen by 7 basis points overnight, while the 10-year yield steadied at 4.6757%, up by 5 basis points the previous day. The US dollar remained relatively stable in Asia after experiencing a bounce overnight. It traded at 158.51 yen against the Japanese yen, up 0.4% from the prior day, surpassing its 200-day average of approximately 158. US jobs data and potential interest-rate decisions will likely shape the near-term direction of the dollar.",
  "summary": "After volatility in the AI-driven rally, focus shifts to the US payrolls report for clues on the interest-rate outlook.",
  "key_points": [
    "Asian shares paused for US jobs data impact on Fed decision",
    "Oil prices rise due to Middle East tensions, Saudi strike threat",
    "China's CSI 300 index rises 0.2% amid market volatility"
  ],
  "editors_take": "Investors now treat US jobs data as a make-or-break event for interest-rate expectations, with strong numbers bolstering rate hike prospects and weak ones potentially encouraging equities.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hindu BusinessLine",
        "title": "Asian shares pause for US jobs, oil extends gains on Mideast risk",
        "url": "https://urgent.news/2026/08/07/asian-shares-pause-for-us-jobs-oil-extends-gains-on-mideast-risk-249700",
        "published": "2026-08-07T03:02:05.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}