U.S. job growth slowed more than expected in April and the increase in annual wages fell below 4.0% for the first time in nearly three years, but it is probably too early to expect that the Federal Reserve will start cutting interest rates before September as the labor market remains fairly tight.

Most Asian stocks rose on Monday, tracking strength in Wall Street as weak payrolls data sparked a resurgence in rate cut expectations, while Chinese markets returned from a long weekend with standout gains. 

Oil prices rose in Asian trade on Monday after clocking their worst weekly decline in seven months, amid growing signs that the latest ceasefire talks between Israel and Hamas had yielded little progress. 

The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week.

The U.S. trade deficit narrowed slightly in March as a decline in imports was tempered somewhat by a plunge in exports.

U.S. job growth probably slowed to a still-solid clip in April, with wages maintaining their steady rise, which would allay fears that the economy was stalling after activity pulled back considerably in the first quarter.