BEIJING — Asian stock markets gained Monday after weak U.S. hiring in August fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices.
The Kospi 180721, -0.03% in South Korea shed less than 0.1% and Sydney’s S&P/ASX 200 XJO, -0.42% lost 0.6%. Stocks slipped in Indonesia JAKIDX, -0.17% but gained in Singapore STI, +0.29% and Taiwan Y9999, +0.57%. Investors appeared to welcome that, because the Fed might be prompted to postpone a possible reduction in bond purchases that pump money into the financial system. Officials have indicated the Fed board make a decision about that at a meeting this month but wants to be sure a recovery is established and say employment is a key factor.
The weak U.S. hiring data also prompted concern the spread of the coronavirus’s more contagious delta variant is hurting economic growth. It was well below the monthly average of more than 900,000 jobs added in June and July.
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