{
  "id": 6090713,
  "title": "Nikkei, Kospi rally as strong US jobs data brighten global growth outlook",
  "url": "https://urgent.news/2026/09/07/nikkei-kospi-rally-as-strong-us-jobs-data-brighten-global-growth",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-07T00:00:34.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/nikkei-kospi-rally-strong-us-jobs-data-brighten-global-growth-outlook"
  },
  "original_language": "en",
  "account": "Asian shares climbed on Monday (Sep 7) following an upbeat US jobs report, which signaled positive global growth despite the likelihood of an interest rate hike. Simultaneously, oil prices ticked upward following US and Iran's attacks on each other's ships in the Gulf. Iran has announced a restricted zone outside the Strait of Hormuz, while its Islamic Revolutionary Guard Corps launched ballistic missiles at two US Navy ships. Consequently, Brent crude rose 0.2% to $96.45 a barrel, after climbing almost 10% in the previous week, while US crude increased 0.4% to $91.85 a barrel. This inflationary effect heightens the importance of a forthcoming US consumer prices reading due Friday, and serves as a significant factor in the European Central Bank's expected rate hike to 2.75% on Thursday. Futures also indicate a 75% chance of another Fed rate increase to 3% by December. European markets, on the other hand, are cautious due to potential hawkish signals from the ECB, with Eurostoxx 50 and Dax futures falling 0.1%. On Wall Street, with a US holiday curbing trading activity, both S&P 500 and Nasdaq futures were slightly lower. Treasury 10-year yields are near their highest since late 2023 at 4.784%, and a robust CPI reading may push them closer to the 5% threshold. For the US Federal Reserve, the positive payrolls report on Sep 2 has led to a 58% probability of a rate hike during their meeting on Sep 16, and a 70% chance of an increase in October. JPMorgan Chief Economist Bruce Kasman anticipates core CPI to rise by 0.21%, keeping the Fed on hold for now. At the same time, markets are pricing a 75% chance of a Bank of Japan rate hike at 0.25% at their Sep 18 meeting, with a 60% probability of further hikes by December. Despite rising yields, central banks remain patient, which has benefited asset prices and the credit cycle. In currency markets, the US dollar index saw a slight boost from the jobs data, but persistent concerns over US debt and policy uncertainties are weighing on its purchasing power, limiting gains. The US dollar index sits at 99.135, close to recent lows of 98.558. The euro is trading at $1.1614, near its August high of $1.1711. The US dollar slipped to 156.07 yen, still flirting with the 155 support level after slipping 2.4% in the week ended Sep 6 due to speculation of a more aggressive BOJ tightening. Gold remained stable at $4,426 an ounce, after dipping to $4,282 in the week ended Sep 6.",
  "summary": "Rising bond yields remain a drag for equity valuation",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}