A market in Tokyo in June 2023.
Richard A. Brooks | Afp | Getty Images
Asia-Pacific markets were set to open mostly higher on Friday, breaking ranks with Wall Street that saw the Dow Jones Industrial Average drop more than 200 points and S&P 500 retreat from record as a payroll report looms.
Traders in Asia assessed household spending data out of Japan. Spending grew 2.9% in October compared to the previous month, beating expectations of a 0.4% growth by economists polled by Reuters. Year-over-year, household spending fell 1.3% in October, less than an expected 2.6%.
Australia’s S&P/ASX 200 opened to trade down 0.4%.
Japan’s Nikkei 225 futures pointed to a higher open for the market, with the futures contract in Chicago at 39,405 and its counterpart in Osaka at 39,400 compared to the previous close of 39,395.60.
Hong Kong Hang Seng index futures were at 19,637 higher than the HSI’s last close of 19,560.4.