Asia-Pacific markets closed mixed on Friday as investors weighed Japan’s latest household spending data and India’s monetary policy decision. This followed a decline on Wall Street, where the Dow Jones Industrial Average dropped over 200 points and the S&P 500 pulled back from record highs.
In Japan, October’s household spending fell 1.3% year-over-year, a smaller drop than the 2.6% forecast by analysts polled by Reuters. On a monthly basis, however, spending surged 2.9% from September, outperforming expectations of a modest 0.4% rise.
India’s central bank maintained its benchmark interest rate at 6.5%, continuing its fight against inflation, which hit a 14-month high in October.
Across the region, performance was uneven. Japan’s Nikkei 225 and Topix indexes declined by 0.9% and 0.6%, respectively. South Korea’s Kospi fell 0.7%, while the Kosdaq shed 2%, as political uncertainty loomed with opposition lawmakers preparing for possible new martial law measures following recent unrest.
Conversely, Hong Kong’s Hang Seng index rose 1.3%, while mainland China’s CSI 300 gained 1.6%, driven by optimism around policy support for economic recovery.
Australia’s S&P/ASX 200 slipped 0.64%, closing at 8,420.9.
In the U.S., Thursday’s trading saw the Dow Jones Industrial Average dip 0.55%, or 248.33 points, to end at 44,765.71. The Nasdaq Composite lost 0.18%, closing at 19,700.26, and the S&P 500 retreated 0.19% to finish at 6,075.11.
Investors are closely watching the upcoming U.S. labor market data, due later Friday. The report will likely shape expectations for the Federal Reserve’s interest rate decision at its next policy meeting.
