<figure id="attachment_3092365" aria-describedby="caption-attachment-3092365" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="wp-image-3092365 size-full" src="https://media.freemalaysiatoday.com/wp-content/uploads/2025/06/1b25e415-13143167_1600x1000_1.webp" alt="" width="1600" height="1000" /><figcaption id="caption-attachment-3092365" class="wp-caption-text">US job data will signal whether Fed rate cuts are on the horizon. (EPA Images pic)</figcaption></figure>
HONG KONG: Asian and European markets advanced on Friday, in line with a global equity rally ahead of a US jobs report that will give insight about the Federal Reserve&#8217;s next move on interest rates.
A frenzied selloff of Chinese stocks meanwhile slowed over reports of a regulatory clampdown.
The global bond market also eased after yields had jumped this week on concerns over mounting government debt.
London, Paris and Frankfurt were having a fair time of it, trading up at the open on Friday.
Across the pond, investors will be looking to US government jobs data due on Friday to cement rate-cut bets.
&#8220;All eyes will be on Friday&#8217;s nonfarm payrolls report with bad news likely to be interpreted as good news as it will raise the market probability that the Fed cuts rates,&#8221; said Victoria Scholar, head of investment at Interactive Investor.
Weekly data released on Thursday showed more first-time claims for unemployment benefits in the United States than analysts had expected, while figures from payroll firm ADP showed slowing private sector hiring in August.
&#8220;Investors now look for final confirmation that the weakening trend is entrenched and justifies a Fed cut –- or two,&#8221; said Ipek Ozkardeskaya of Swissquote bank.
In Asia, an August rally in Chinese stocks, fuelled by surging shares in semiconductor firms, ground to a halt this week, with Cambricon Technologies crashing 14 percent on Thursday, as investors weighed potential regulations.
China&#8217;s blue-chip CSI 300 benchmark was recovering on Friday after falling 2.1 percent the previous day &#8212; the largest drop since early April, when US President Donald Trump&#8217;s tariff threats caused the index to drop more than seven percent in one day.
Tokyo and Hong Kong were both up on Friday and Shanghai&#8217;s benchmark index, which was tracking down in early trading, had clawed back up.
Analysts said earlier falls had followed a Bloomberg report that China&#8217;s financial regulators might implement measures to cool the pace of the selloff in stocks.
&#8220;The selloff is more than a blip; it&#8217;s the first crack in the facade of a $1.2 trillion melt-up that had traders whispering about deja-vu and a speculative frenzy reminiscent of the 2015 &#8216;crazy bull&#8217;,&#8221; said Stephen Innes of SPI Asset Management.
Japanese long-term government debt yields also eased on Friday, while the Nikkei failed to extend early-session gains.
Gold remained a refuge for investors, who have been turning away from long-term bonds once considered safe assets.
Bullion consolidated near its all-time high, while oil prices extended losses on Friday in anticipation of excess supply in the coming months, as OPEC+ nations are expected to further unwind production cuts.
&#8220;Geopolitical risks&#8230; remain elevated, with mounting fears of further Russian attacks on Ukraine. That keeps downside potential in oil limited, likely into the $60–62 range,&#8221; Swissquote&#8217;s Ozkardeskaya said.
Oil has tumbled 12 percent this year as global producers outside OPEC+ ramp up and tariffs curb demand.
Key figures at around 0715 GMT &#8211;
Tokyo &#8211; Nikkei 225: UP 1.0 percent at 43,018.75
Hong Kong &#8211; Hang Seng Index: UP 1.54 percent at 25,445.60
Shanghai &#8211; Composite: UP 1.24 percent at 3,812.51
London &#8211; FTSE 100: UP 0.3 percent at 9,240.84
Paris &#8211; CAC 40: UP 0.3 percent at 7,723.97
Frankfurt &#8211; DAX: UP 0.7 percent at 23843.24
Euro/dollar: UP at $1.1673 from $1.1649 on Thursday
Pound/dollar: UP at $1.3455 from $1.3437
Dollar/yen: DOWN at 148.24 yen from 148.45 yen
Euro/pound: UP at 86.75 pence from 86.72 pence
West Texas Intermediate: DOWN 0.5 percent at $63.15 per barrel
Brent North Sea Crude: DOWN 0.4 percent at $66.72 per barrel
New York &#8211; Dow: UP 0.8 percent at 45,621.29 (close)
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MatchPoint Times

Asian, European markets rally ahead of US jobs data

Anticipation of US job data fuels rally in Asian and European markets, sell-off in China following reports of regulatory clampdown.

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