Asia’s benchmark stock index held at a two-month low after better-than-forecast U.S. employment data bolstered the case for the Federal Reserve to raise interest rates this year.
The MSCI Asia Pacific Index slipped less than 0.1 percent to 147.83 as of 9:03 a.m. in Tokyo. The measure slid 2.3 percent last week, closing Friday at the lowest since April 3. Bets in interest-rate futures showed the odds the Fed will boost borrowing costs in September rose to 33 percent on Friday after the best U.S. jobs report in five months, from 27 percent before the data.
A gauge of global bonds erased its 2015 gains last week as signs of price growth in the euro area reignited a fixed-income selloff. Yields on 10-year Treasuries rose on Friday to the highest since October.
Japan’s Topix index added 0.3 percent. New Zealand’s NZX 50 Index was little changed. South Korea’s Kospi index fell 0.2 percent. Markets in Australia are closed for a holiday, while those in China and Hong Kong have yet to open.
The Shanghai Composite Index climbed 1.5 percent on Friday, capping a 8.9 percent advance last week, the most since December. Price swings are widening, with the Shanghai index’s 100-day volatility measure at the highest level in more than five years.
Source : Bloomberg