Stocks in Asia were mostly higher on Monday as Chinese leaders began a major meeting that is expected to bring new promises of aid to the world’s second-largest economy.

Oil prices gained more than $1 per barrel OPEC+ oil producing countries He said that they will extend the production cuts until the end of the year.

The reason for the move taken by the USA was not stated presidential election on Tuesday.

U.S. benchmark crude oil rose $1.27 to $70.76 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil, the international standard, rose from $1.30 to $74.70 per barrel.

The Standing Committee of China’s National People’s Congress is meeting this week, and analysts predict the government may support big spending initiatives to stimulate the economy.

“Markets are alive with whispers of a new stimulus package, driving expectations high and creating excitement that is hard to ignore,” Stephen Innes of SPI Asset Management said in a comment.

The Hong Kong Hang Seng index increased by 0.1 percent to 20,540.44 points, and the Shanghai Composite index increased by 0.3 percent to 3,281.76 points.

Markets in Tokyo were closed for a holiday.

In Australia, the S&P/ASX 200 index increased by 0.2% to 8,134.60 points, and the Seoul Kospi index increased by 1% to 2,568.85 points.

Taiwan’s Taiex index rose 0.3%.

on friday, Amazon While it causes US stock indices to rise, surprisingly poor jobs report overshadowed by some unusual events Bets on a new cut in interest rates next week have strengthened on Wall Street.

The S&P 500 rose 0.4% to 5,728.80 points, recouping some of the previous day’s loss and hitting its worst level in eight weeks. Dow Jones Industrial Average index increased by 0.7 percent to 42,052.19 points, and Nasdaq index increased by 0.8 percent to 18,239.92 points.

Amazon surged 6.2% in the latest quarter after posting higher profits than analysts expected, becoming the strongest force pushing the S&P 500 higher.

Meanwhile, Intel rose 7.8% despite reporting a worse-than-expected loss. Its revenue beat analysts’ estimates, and it gave a similarly expectations-beating forecast for its current quarter’s results. Cardinal Health was another of the market’s biggest winners, rising 7% in the latest quarter after beating analysts’ profit and revenue estimates. It also raised its profit forecast for its fiscal year, which is only its second quarter.

They helped offset the 1.2% decline AppleIt said it expects revenue growth in the key holiday quarter to be in the low to mid-single digit percentages. This was below many analysts’ estimates.

Treasury yields rose after a report that said U.S. employers added just 12,000 workers to payrolls last month, well below the 115,000 hiring economists expected, or the 223,000 jobs employers created in September.

A separate report said U.S. manufacturing contracted more last month than economists expected. This was one of the areas where the economy suffered the most as the Federal Reserve kept interest rates at a two-decade high through September.

There remains almost unanimous expectation on Wall Street that the Fed will cut its key interest rate by a quarter point next week.

The two-year Treasury yield, which closely tracks expectations for Fed action, initially fell after the jobs report but rose to 4.20% from 4.18% by the end of Thursday.

The yield on the 10-year Treasury note, which also takes into account future economic growth and other factors, similarly rose after a sharp decline. It rose to 4.37% from 4.29% at the end of Thursday.

The hope on Wall Street is that the economy will avoid a recession despite a slowdown in the job market, thanks in part to cuts in interest rates by the Fed. So far the overall economy has remained the same. more durable than feared.

In foreign exchange trading early Monday, the dollar fell to 152.05 Japanese yen, from 152.42 yen at the end of Friday. The euro fell from $1.0881 to $1.0879.