Zhang Mengying

Investing.com – Asia Pacific stocks were mostly up on Monday morning as easing COVID-19 curbs in China offered hope for global economic recovery. The positive U.S. jobs reports have opened up the possibility for the Federal Reserve of America to remain assertive in tackling inflation.

Japan’s gained 0.28% by 10:23 PM ET (2:23 AM GMT), and South Korea’s was up 0.44%.

Australia’s rate of decline was 0.34%. It will announce its policy on Tuesday.

Hong Kong’s Index gained 0.80%

China’s was up 0.25% while the gained 0.47%. China earlier in the day released a number of data points that rose to

Beijing has relaxed COVID-19 restrictions and opened restaurants and cinemas. This is an encouraging sign for economic recovery.

Saudi Arabia’s higher oil import prices led to an increase in the price of oil.

Investors fear that tightening the monetary policies could lead to recession. On Friday, however, 390,000 new jobs were created in May. This was higher than what Investing.com had predicted and 436,000.

The positive job report does not ease concerns about the U.S. slowing down, but it did strengthen the belief that the Fed would continue to cool inflation with interest rate increases. Analysts believed that the Fed was poised for a soft landing.

“May’s numbers came in about as good as the Fed could expect,” Barclays Jonathan Millar (LON) told Reuters.

“It’s a good sign that the Fed’s plans to cool the labor market are playing out favorably so far, with solid gains in employment continuing to generate steady income gains that will help allay recession worries, for the time being.”

Cleveland Fed President Loretta Mester said Friday that she doesn’t see enough evidence that inflation has peaked and is on board with supporting multiple interest rate increases.

It will announce its policy decision Thursday. The announcement of an end to bond buying will be made this week by the Bank. This is in line with global peers who are tightening their monetary policies in face high inflation.

Data-wise, Friday’s alongside is expected.