## Asian Markets Rise Ahead of Earnings Reports and US Inflation Data
Asian shares mostly rose on Monday as investors awaited earnings reports from major global companies and a key US inflation report. The report will serve as a gauge for inflation in the United States.
Japan's benchmark Nikkei 225 jumped 1.3% in morning trading, while Australia's S&P/ASX 200 gained 0.3%. South Korea's Kospi rose 0.3%, and Hong Kong's Hang Seng added 0.8%. The Shanghai Composite remained relatively flat, edging up less than 0.1%.
Analysts attributed the gains to a rebound in risk sentiment after recent jitters. However, they cautioned that gains could be limited as investors remain cautious ahead of the US consumer price index release later this week.
## Strong US Jobs Report Boosts Wall Street
Wall Street ended last week with a rally following a surprisingly strong US jobs report. The S&P 500 rose 1.1%, recovering most of its losses from the previous day and moving closer to its record high set last week. The Dow Jones Industrial Average rose 0.8%, and the Nasdaq composite gained 1.2%.
The strong jobs report showed that US employers added a surprisingly strong 303,000 workers to their payrolls in March. This has fueled consumer spending and earnings growth for businesses, contributing to strong overall economic growth.
However, concerns remain about bringing inflation below 3% and towards the Fed's target rate of 2%. The strong employment and consumer spending data suggest that achieving this goal will not be easy.
## Energy Prices Rise Amid Economic Recovery and Supply Concerns
Analysts also noted that energy prices have been rising lately, particularly impacting economies like Japan that import almost all their oil. This upward pressure is driven by signs of economic recovery in various regions, leading to increased energy consumption. Additionally, concerns about supply and political tensions tend to push prices higher.
However, energy prices reversed course early Monday, with benchmark US crude falling $1.27 to $85.64 a barrel. Brent crude, the international standard, declined $1.41 to $89.76 a barrel.
## Currency Markets See Modest Movements
In currency trading, the US dollar edged up to 151.70 Japanese yen from 151.61 yen. The euro remained relatively stable, trading at $1.0842 compared to $1.0841 previously.