Market Jitters as Asia Stocks Rise Ahead of Powell's Key Speech

Stocks in Asia made slight gains on Friday, as traders nervously anticipated Federal Reserve Chair Jerome Powell's speech at the annual Jackson Hole symposium. Investors are keen for any indication of a potential September rate cut, especially in light of concerns about the labor market.

The MSCI's index of Asia-Pacific shares outside Japan increased by 0.2%, with South Korea's Kospi index rising 1% and China's CSI 300 Index continuing its upward momentum. However, Japan's Nikkei 225 experienced fluctuations, settling up by 0.1%.

The U.S. dollar index held steady amid the uncertainty, as traders awaited more data on economic activity and inflation. Meanwhile, crude oil prices dipped slightly, influenced by geopolitical tensions, while the labor market showed mixed signals of strength and weakness.

(With inputs from agencies.)