Asia-Pacific markets rose as investors pivot toward U.S. May jobs report
Asian and Pacific stocks are up in anticipation of the U.S. May jobs report, as worries about the debt ceiling subside.
Asia-Pacific stocks rose as traders looked ahead to the U.S. jobs report for May.
The S&P/ASX 200 index in Australia rose 0.25% during its first trading hour.
According to Refinitiv, the Kospi gained 0.66%, as South Korea's May consumer inflation cooled to its lowest level in 19 months, and eased for the fourth consecutive month. The Nikkei was up by 0.49%.
The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all closed at their highest levels in August. The Dow Jones Industrial Average rose 0.47%.
The House passed the bill by a large margin on Wednesday night, just days before the U.S. deadline for defaulting on its debt. Senate Majority leader Chuck Schumer announced that the chamber will pass the bill on Thursday night.
Investors also anticipate the May jobs report, which will be released on Friday. Recent data indicate a healthy labor market, despite the Federal Reserve’s aggressive rate hike plan.