Investing.com — Asian stocks mostly rose on Monday, tracking Wall Street’s record close after a weaker-than-expected U.S. jobs report reduced expectations for a near-term Federal Reserve rate hike.
Gains in Japan and South Korea led the regional rebound, while higher oil prices kept investors cautious over renewed uncertainty around the Strait of Hormuz.
The Nasdaq and S&P 500 both closed at record highs on Friday after U.S. employers unexpectedly cut jobs in July and hiring in the prior two months was revised lower. The softer labor data pushed the odds of a September Fed rate hike down to about 43% – 44%, from roughly 64% – 67% a week earlier.
In Asian trade, rose about 0.2%, while S&P 500 Futures were little changed.
Japan, Korea rebound as chipmakers recover; China tech mixed
Japan’s rose nearly 2%, while the broader gained about 0.8%. The rebound followed Friday’s Wall Street gains and came as investors returned to semiconductor stocks.
Kioxia () rose about 0.5%, gained nearly 1.7%, while and advanced more than 1% each.
South Korea’s climbed about 0.4%, after advancing overt 2% earlier in the session, withSK Hynix () up more than 1.5% and Samsung Electronics () gaining about 0.4%.
The gains followed a bruising week for Asian chip stocks, as investors reassessed the sustainability of the AI-driven rally and valuations across the semiconductor sector.
Mainland Chinese stocks were mixed. The slipped about 0.1%, while the gained roughly 0.5%.
China’s technology sector was also mixed. rose more than 2%, while gained about 1.7% and advanced more than 1%. fell nearly 3%, while slumped more than 5%. Hong Kong’s rose about 0.5%.
Australia stocks slip; lithium rallies, Treasury Wine jumps
Australia’s S&P/ASX 200 fell about 0.5%, giving back some of Friday’s gains. Lithium stocks bucked the broader weakness, with rising nearly 6%, and gaining more than 5%.
jumped more than 4%, reaching its highest level since December 9, 2025, after the company announced a major restructuring of its U.S. operations to address excess supply. The stock rose as much as 7.9% earlier in the session.
India’s fell about 0.3%, pointing to a softer start for Indian equities.
Singapore’s was closed on Monday for the National Day public holiday.
Oil prices strengthened as investors reassessed the prospects for a reopening of the Strait of Hormuz. Iran said a deal with Oman to define new shipping lanes was in its final stages but maintained that the waterway would only reopen after the U.S. met additional conditions.
The renewed rise in fuel prices puts greater focus on Wednesday’s U.S. July consumer price report. Economists expect headline inflation to rise 0.1% and core inflation to increase 0.2%. A stronger reading could revive expectations for a September Fed hike.
Markets will also watch a lighter U.S. earnings slate this week, including results from Applied Materials, Cisco and CoreWeave, for fresh signals on the AI investment cycle.