BEIJING—Asian stock markets rose Friday ahead of a United States job market update that traders hope will encourage the Federal Reserve to ease off plans for more interest rate hikes.
Shanghai, Tokyo, and Seoul advanced. New York, London, and Frankfurt were closed for the Good Friday holiday.
Traders who worry higher interest rates might tip the global economy into recession looked ahead to U.S. government data that are expected to show the job market is cooling. They hope that will prompt the Fed to decide aggressive rate hikes are no longer needed to extinguish inflation.
Other data have “confirmed a clear trend that a labor market slowdown has begun,” said Edward Moya of Oanda in a report….