Asian Stocks Waver, US Futures Dip as Investors Await Key US Jobs Data

Asian stocks gave up most of their initial gains and US stock futures fell as investors awaited US jobs data, which will be crucial in determining the Federal Reserve`s next move on interest rates. The market is particularly sensitive to economic data due to recession concerns and doubts about the AI sector`s strength. While Japan`s Nikkei index dropped, Taiwan`s Taiex index rose due to a rally in chipmaker stocks. Treasury yields increased, and the dollar stabilized after a previous decline. JPMorgan Chase downgraded Chinese stocks, citing weak policy support and potential US election-related volatility, leading to a drop in Hong Kong`s Chinese stock index. Overall, market sentiment remains cautious ahead of the US jobs report on Friday.