Asian shares mixed before U.S. jobs data, Europe expected higher

SYDNEY/HONG KONG - Asian stock markets stayed within tight ranges on Friday amid thin holiday trade and as investors awaited the release of key U.S. jobs data and other directional cues.

European stocks are set to open higher, with London’s FTSE futures up 0.2 percent and German DAX futures up 0.1 percent. A report by a payrolls processor on Wednesday showed U.S. private employers added 275,000 jobs last month. Global policymakers are grappling with tepid wage growth and lukewarm inflation despite a surge in jobs and still strong economic expansion, complicating monetary policy decision-making.

“Investors are still too optimistic about the outlook for earnings growth. As earnings disappoint, we think that stock markets will drop around the world.”

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