World stocks slip before U.S. jobs report
By Kevin Plumberg HONG KONG (Reuters) - Stocks in Hong Kong and Taiwan rose on Thursday, bolstered by bets China’s recovery will continue, while the U.S. dollar recovered from a three-week low against the euro ahead of the latest U.S. labor market report. Major European stock futures were down 0.9 percent before the jobs data, while U.S. S&P 500 futures declined 0.3 percent. The U.S. unemployment rate is forecast to rise to a 26-year high of 9.6 percent, which would test the most die-hard bulls on the extent of the recovery even after Wednesday’s positive manufacturing figures from China, Europe and the United States. “Manufacturing data from the United States and other major economies came out quite solid, but investors remain cautious ahead of U.S. jobs data and corporate earnings,” said Yoo Soo-min, a market analyst at Hyundai Securities in Seoul. Japanese government bond futures cut their losses after a 2.1 trillion yen ($21.7 billion) auction of 10-year bonds meant to help Tokyo finance stimulus spending drew solid demand.[...]
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