Premarket: China stocks slump but world markets hold firm ahead of U.S. jobs data

News Snapshot:

China shares fell to new five-year lows on Friday and posted their worst weekly drop in five years, while bumper earnings at Amazon and Meta helped buoy world stocks ahead of key U.S. jobs data later in the day. The Shanghai Composite closed 1.5% lower with investors disappointed by cautious and piecemeal government stimulus measures to shore up the shaky economy. For the week, the index sank 6.2%, its largest such loss since October 2018. The blue-chip CSI300 hit a five-year low, while shares in drug research and development group WuXi AppTec slid 20% in Hong Kong after its mention...