Asian Stocks Gain as U.S. Payrolls Bolster Case for Dovish Fed
- U.S. added 142,000 jobs in September, missing lowest estimate
- Probability of Fed rate increase in 2015 falls to 34%
Asian shares rose, with the regional benchmark index on its longest winning streak in almost three months, after a weaker-than-expected U.S. jobs report reduced the case for the Federal Reserve to raise interest rates.
Galaxy Entertainment Group Ltd. jumped 5.3 percent to lead a second day of gains by casino stocks traded in Hong Kong after Chinese visitors to the world’s largest gambling hub surged during the mainland’s Golden Week holiday. Energy shares led the advance on the Asian benchmark index, with Woodside Petroleum Ltd. rising 3.1 percent after a report signaled U.S. crude output cuts. Maruti Suzuki India Ltd., the nation’s biggest automaker, fell 3.6 percent in Mumbai after its board approved an agreement with Suzuki Motor Corp. to build a new factory in Gujarat.