Asian stock markets climbed on Monday as weaker-than-expected US employment figures reduced the likelihood of a September interest rate increase. The S&P 500 closed at a record high while the Nasdaq gained more than one percent, following a Bureau of Labor Statistics report showing 23,000 jobs lost in July.
The jobs data pushed odds of a Federal Reserve rate hike next month to about 43 percent, down from 64 percent a week earlier. In Tokyo, the Nikkei surged 2.08 percent, with semiconductor shares leading gains. South Korea's KOSPI rose 0.6 percent, though chipmaker performance was mixed as SK Hynix advanced while Samsung Electronics slipped.
Crude oil prices jumped around one percent after Iran's Revolutionary Guards said they would not reopen the Strait of Hormuz until the United States meets a list of demands.