Tokyo recovers some losses as most Asian markets rise

Oct. 1, 2024 - Legit.ng

The yen slipped to as much as 144 per dollar at one point, having sat below 142 Monday. Traders are keeping an eye on Tokyo with Ishiba due to be sworn in as prime minister later in the day.

"A somewhat weak headline jobs growth could propel markets to price in another 50-basis-point rate cut from the Fed in November," said Charu Chanana, head of forex strategy at Saxo Capital Markets. All three main indexes on Wall Street rose, with the Dow chalking up another record, and most of Asia followed suit.

Shanghai's stock market jumped more than eight percent Monday -- its best day since 2008 -- and Shenzhen more than 10 percent, a day before Chinese markets shut for the Golden Week holiday...