International Finance: Asia stocks, US futures rise as jobs data in focus: markets wrap

Stocks in Asia and US futures climbed ahead of crucial American jobs data that will help identify the path forward for Federal Reserve monetary tightening.

Equities in Japan, Australia and South Korea rose. Shares in Hong Kong and China traded higher to extend recent advances, helped along by news reports that Chinese officials wouldon property developer borrowing. Contracts for European futures and those for the S&P 500 rose after the US index fell 1.2% on Thursday.

“What the Fed really wants to see is some slack build up in the labour markets, in hopes it can do this gently without creating much of a downturn,” Raghuram Rajan, a former governor of India’s central bank, said on Bloomberg Television. “But it may well be that by the time it seems that it will have raised rates enough, that the momentum takes us down to a mild recession at the very least.”

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