China has set a GDP target of around 5% for yet another year, amid analyst concerns of insufficient policy support to reach the goal.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets opened lower Friday as investors awaited India’s interest rate decision, and assessed Japan’s household spending data.
Australia’s S&P/ASX 200 slipped 0.12%.
Japan’s Nikkei 225 fell 0.34% and the Topix traded 0.32% lower. The country’s household spending in December rose 2.7% year on year in real terms, sharply beat Reuters’ expectations of a 0.2% rise.
South Korea’s Kospi shed 0.26%, while the small-cap Kosdaq fell 0.3%.
Hong Kong’s Hang Seng index futures were at 20,907, slightly higher than the HSI’s last close of 20,891.62.
The Reserve Bank of India is likely to trim the benchmark repo rate by 25 basis points to 6.25%, as it concludes its policy meeting later in the day.
Overnight in the U.S., the three major averages closed higher. The S&P 500 climbed for a third straight session on Thursday as investors weighed the latest batch of corporate earnings.
The broad market index added 0.36% to 6,083.57, while the Nasdaq Composite rose 0.51% to 19,791.99. The Dow Jones Industrial Average, however, lost 125.65 points, or 0.28%, and closed at 44,747.63.
Wall Street is now awaiting January’s jobs report, which is scheduled for release on Friday at 8:30 a.m. ET. Economists polled by Dow Jones are forecasting nonfarm payrolls growth of 169,000 for the month, less than the 256,000 jobs added in December.
—CNBC’s Lisa Kailai Han and Sean Conlon contributed to this report.
I am a passionate digital marketer, content writer, and blogger. With years of experience in crafting compelling content and driving digital strategies. I’m always exploring new trends, optimizing strategies, and creating content that resonates with audiences. When I’m not working, you’ll find me diving into the latest digital marketing insights or experimenting with new blogging ideas.