* Global stocks slide on Europe debt unease, China move
* Euro rises on hopes an Irish aid package is near
* Oil falls as investors weigh China's move on economy (Updates with close of European markets)
By Herbert Lash
NEW YORK, Nov 19 (Reuters) - World stocks and commodities eased on Friday after China acted to slow its heady growth rate and as investors held out hope for an Irish bailout that would lift a cloud of uncertainty over markets.
The euro edged higher and gold prices steadied near $1,350 an ounce on growing confidence that Ireland's banking and debt crisis will soon be resolved. For details see [ID:nN19115574]
Hopes that Ireland was near a deal to get tens of billions of euros from its European partners and the International Monetary Fund helped push the euro above $1.37 overnight. But momentum stalled as traders awaited further details.
The euro
Concerns about the Irish debt crisis hit banks in Europe, while shares of miners and others fell on China's order for lenders to lock up more money with the central bank, a move that might slam global growth prospects. [ID:nLDE6AI1NN]
The People's Bank of China said it will raise bank reserve requirements for the second time in two weeks, leading to speculation a hike in interest rates was in the works.
"The week has been dominated by euro zone peripheral debt concerns and I sense very few people want to hold onto positions over the weekend," said Jeremy Batstone-Carr, head of equities at Charles Stanley.
"But the big one investors are watching for is what the Chinese will decide to do about their base rates. We will not get any further information of this until the next inflation data comes out."
MSCI's all-country world stock index <.MIWD00000PUS> fell about 0.1 percent, while the pan-European FTSEurofirst 300 index <.FTEU3> of top shares closed down 0.5 percent at 1,102.18.
Wall Street was on course for its second week of losses as markets continued to pull back in volatile trading from its recent rally. [ID:nN19182252]
Investors looked to a period of range-bound trading heading into the year's end. The benchmark S&P 500 index has fallen about 2.5 percent the last two weeks but is still up 7 percent for the year.
At 12:30 p.m. (1730 GMT), the Dow Jones industrial average <.DJI> was down 20.13 points, or 0.18 percent, at 11,161.32. The Standard & Poor's 500 Index <.SPX> was down 2.04 points, or 0.17 percent, at 1,194.65. The Nasdaq Composite Index <.IXIC> was down 3.27 points, or 0.13 percent, at 2,511.13.
OIL, COPPER PRICES LOWER
Oil prices fell more than $1 and copper prices softened, reversing earlier gains, as speculation of a Chinese interest rate rise mounted. Crude prices remained volatile ahead of the December crude contract's expiry on Friday.
U.S. crude oil
Brent crude futures
"China (is) tightening policy much earlier in this inflationary cycle, so that should maintain long-term growth prospects," said Michael Lewis, global head of Deutsche Bank's commodities research.
Spot gold
The euro edged higher on growing confidence that Irish discussions over an IMF support package will shore up its embattled banking sector. EU sources suggested an aid plan will be unveiled next week. [ID:nLDE6AI0QG]
The dollar was up against a basket of major trading-partner currencies, with the U.S. Dollar Index <.DXY> up 0.02 percent at 78.634.
Against the Japanese yen, the dollar
But investors kept to the sidelines in euro zone debt markets, waiting for further details of any Irish aid package. [ID:nLDE6AI1PJ]
Shorter-dated U.S. Treasury prices recovered from early weakness to be relatively unchanged, while longer bonds rose after the Federal Reserve bought some debt as part of its bond purchase program. [ID:nN19182017]
Two-year notes
Asian stock markets were mixed, with MSCI's Asia ex-Japan index <.MIAPJ0000PUS> down 0.1 percent and Japan's Nikkei <.N225> average up 0.1 percent. (Reporting by Edward Krudy, Wanfeng Zhou and Ellen Freilich in New York; William James, Zaida Espana and Isabel Coles, Joanne Frearson, Jan Harvey and Marie-Louise Gumuchian in London; Writing by Herbert Lash; Editing by Kenneth Barry)