World stock mar­kets un­even ahead of key US job re­port

The China Post - - MARKETS - BY KELVIN CHAN

Euro­pean stocks rose while Asian mar­kets were lack­lus­ter Fri­day as in­vestors waited for a U. S. jobs re­port that could in­flu­ence whether the U. S. Fed­eral Re­serve chooses Oc­to­ber or De­cem­ber for its first in­ter­est rate hike in nearly a decade.

Euro­pean bench­marks gained in early t rad­ing. France’s CAC- 40 added 1.1 per­cent to 4,476.27 and Ger­many’s DAX gained 0.9 per­cent to 9,598.17. Bri­tain’s FTSE 100 rose 0.9 per­cent to 6,129.84. U. S. stocks were poised to open higher. Dow fu­tures were up 0.3 per­cent to 16,234.00 and broader S& P 500 fu­tures rose 0.3 per­cent to 1,922.30.

In­vestors were gear­ing up for the re­lease of Fri­day’s U.S. em­ploy­ment re­port. Em­ploy­ers in the world’s big­gest econ­omy are ex­pected to have added a healthy 206,000 jobs in Septem­ber, re­sult­ing in the un­em­ploy­ment rate hold­ing steady at 5.1 per­cent, ac­cord­ing to an­a­lysts’ fore­casts. The num­bers are taken into con­sid­er­a­tion by the Fed as it mulls rais­ing in­ter­est rates from record low lev­els, with its next de­ci­sion sched­uled for Oct. 28. The fol­low­ing pol­icy meet­ing is in De­cem­ber. How­ever, there are wor­ries a rate hike could also add to un­cer­tainty in global fi­nan­cial mar­kets as many coun­tries strug­gle with slower than av­er­age eco­nomic growth.

“We will spend to­day pa­tiently wait­ing for the latest set of U.S. pay­rolls data, which may tell us how much longer we have to wait for the Fed to de­liver a mon­e­tary pol­icy tight­en­ing that most of the global econ­omy is sim­ply not ready for,” Rabobank an­a­lyst Mi- chael Ev­ery said in a com­men­tary.

Mar­kets in the re­gion drifted, with Ja­pan’s Nikkei 225 ris­ing less than 0.1 per­cent to end at 17,725.13. South Korea’s Kospi slipped 0.5 per­cent to 1,969.68. Hong Kong’s Hang Seng re­bounded af­ter a hol­i­day, jump­ing 3.2 per­cent to 21,506.09 in a de­layed re­ac­tion to a re­port that showed a small im­prove­ment in Chi­nese man­u­fac­tur­ing. Aus­tralia’s S&P/ASX 200 lost 1.2 per­cent to 5,052.00. Mar­kets in main­land China are closed for hol­i­days un­til Oct. 8. Stock bench­marks in South­east Asia were mixed.

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