Asian share markets edged higher on Aug 10 after a soft US jobs report reduced expectations for near-term interest rate rises, though stalled Gulf peace talks pushed oil prices up. Japan's Nikkei rose 0.6 per cent and South Korea added 0.5 per cent, while MSCI's broadest Asia-Pacific index outside Japan edged up 0.3 per cent, Reuters reports.

Iran said on Aug 9 a deal with Oman on new Strait of Hormuz shipping lanes was in final stages but repeated the waterway would reopen only once the US met other conditions. Brent crude added 0.9 per cent to $84.32 a barrel and US crude rose 0.7 per cent to $78.74 as shipping through the vital route remained minimal.

Futures markets have cut the odds of a Federal Reserve rate rise in September to around 44 per cent from 67 per cent a week ago. Analysts watch for the US July consumer price report due Aug 12, where a surprise rise could rekindle speculation of a September hike. "Our forecast for core CPI of 0.22 per cent is probably not quite firm enough to prompt a hike from the Fed at the September meeting, though repeated prints closer to 0.3 per cent could do it," said Michael Feroli, chief US economist at JPMorgan, The Straits Times reports.