Asian Shares Rebound Amid Rising Oil Prices, Central Banks on the Move

Asian shares rebounded on Monday as investors took heart from last week's robust US jobs report, despite concerns about rising oil prices and interest rates. The Brent crude price rose to $96.45 a barrel after the US and Iran attacked ships in the Gulf.

The European Central Bank is seen as certain to lift rates to 2.75% on Thursday, with a 75% chance of another hike to 3.0% by December. This has kept European stocks on edge, with EUROSTOXX 50 futures and DAX futures easing 0.1%, while FTSE futures were flat.

JPMorgan's global head of economics, Bruce Kasman, said that central banks are now 'on the move' as they respond to the energy shock. He forecasts two more hikes from the ECB and BoJ before year-end.