Most Asian stocks rose sharply on Monday as weaker-than-expected U.S. payrolls data furthered expectations that the Federal Reserve was done with its rate hike cycle, while focus also turned to upcoming economic readings from China.
Regional stocks have been on a tear since Thursday, after the Fed provided somewhat less hawkish signals than markets had feared, bumping up expectations of an end to any more hikes.
But weaker-than-expected nonfarm payrolls data on Friday was the biggest proponent of this notion, given that it signaled cooling in the U.S. jobs market, which has been a major pain point for the Fed.
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