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AP
  • Updated

Asian stock markets are mixed ahead of U.S. jobs data as investors that might influence Federal Reserve plans for more interest rate hikes to cool surging inflation. Shanghai and Seoul advanced while Tokyo and Hong Kong retreated. Oil prices rose more than $1. Investors waited for U.S. data on August hiring to see how the economy is responding to four earlier hikes to cool inflation that is at a four-decade high. A strong reading would give ammunition to Fed officials who say higher interest rates are needed to slow economic activity. Forecasters said data showing more than 300,000 jobs were added in August might reinforce support for a bigger rate hike.

AP
  • Updated

Asian shares are trading mostly lower, tracking the broad slide on Wall Street, as investors braced for higher interest rates and inflation worries for some time. Benchmarks fell in Tokyo, Sydney, South Korea and Hong Kong in early trading, but edged up slightly in Shanghai. The slide in the Nikkei came despite signs of improvement in the Japanese economy. A Finance Ministry study on corporate financial statements for April-June showed a 17.6% improvement from the previous year. Stocks closed lower on Wall Street.