* Asian stocks weak ahead of U.S. non-farm payrolls data
* Aussie dollar gets brief lift from upbeat c.bank
statement
* Sterling stable after plunging on shock BoE pump priming
(Repeats to more subscribers)
By Susan Fenton
HONG KONG, Aug 7 (Reuters) - Asian stocks dipped on Friday
as investors grew cautious before a key U.S. jobs report, while
the Australian dollar got only a brief lift despite signals
from the central bank that interest rates could rise over time.
U.S. President Barack Obama told a crowd in Virginia that
he sees the "very beginnings" of the end of recession, and data
showing a sharp drop in U.S. jobless claims last week also
buoyed recovery hopes.
But investors were awaiting all-important U.S. non-farm
payrolls data later in the day for more conclusive evidence
that the world's biggest economy has turned the corner, amid
concern that markets may be getting ahead of fundamentals.
Corporate earnings' reports out of Asia continued to
highlight the extent of the global recession, with shares of
Japanese consumer electronics maker Pioneer Corp <6773.T>
tumbling more than 4 percent in Tokyo after it posted a
quarterly loss [].
It helped drag Japan's Nikkei share index <> down 1
percent.
"We're certainly not heading into a downtrend, but we've
been gaining for five months now mainly on expectations that
company results will improve and it's hard to know if we can
maintain this momentum into the rest of the year," said
Masayoshi Okamoto, head of dealing at Jujiya Securities in
Tokyo. "Rises will be tough."
The MSCI index of Asia-Pacific stocks outside Japan
<.MIAPJ0000PUS> was 0.9 percent lower, but has rallied around
77 percent since a rebound in global equities began on March 9.
Shares in Seoul were flat and Hong Kong's Hang Seng Index
<> fell 1.4 percent while Taiwan markets were closed due to
a typhoon.
In Malaysia, Malaysia Airlines' <MASM.KL> shares jumped
more than 7 percent after the carrier announced a
second-quarter profit on Thursday, reversing first-quarter
losses and helped by stabilising oil prices [].
In currency markets, the Australian dollar <AUD=> got a
brief lift but then dipped after the Reserve Bank of Australia
raised its economic growth and inflation forecasts and said
rates could rise to more normal levels over time
[].
But lower Asian stocks and caution ahead of the U.S. jobs
data pared gains.
Australian share prices also slipped with mining giants BHP
Billiton <BHP.AX> and Rio Tinto <RIO.AX> both dropping more
than 2 percent after a sharp retreat in commodity prices on
Thursday.
Prices of copper and nickel slid further on Friday ahead of
the U.S. data. While copper prices have doubled this year
thanks to Chinese demand, they could quickly lose momentum if
data suggests a global economic recovery may take longer than
hoped, analysts said.
Sterling stabilised against the U.S. dollar after plunging
on Thursday following the Bank of England's shock announcement
that it would expand its quantative easing plan as Britain's
downturn appeared to have been deeper than previously thought
[].
Japanese government bond futures edged higher as stocks
fell with September 10-year futures up 0.05 point at 137.60
<2JGBv1>.
Oil prices slipped after reaching a six-week high on
Thursday.
(Additional reporting by Elaine Lies in Tokyo)
(Editing by Kim Coghill)
