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Asia-Pacific markets were mixed Friday as investors parsed Japan’s latest gross domestic product figures and awaited a slate of other economic data from the region.
Japan’s benchmark Nikkei 225 slipped 0.14%, while the Topix added 0.12% after Japan’s economy contracted 0.2% quarter-on-quarter for the three months ended March. Economists polled by Reuters had estimated a 0.1% economic contraction from the prior quarter.
The data comes at a time when the country is locked in trade negotiations with the U.S., with initial talks between both sides not yielding a conclusive deal so far.
A weak outcome for Japan’s GDP can weigh on the Bank of Japan’s rate hike pricing and push USD/JPY up towards resistance at 148.13, Commonwealth Bank of Australia wrote in a note. The Japanese yen is currently trading at 145.52 against the greenback.
Australia’s benchmark S&P/ASX 200 added 0.44%. South Korea’s Kospi rose 0.33% while the small-cap Kosdaq slipped 0.2%.
Futures for Hong Kong’s Hang Seng index stood at 23,235, lower than its last close of 23,453.16.
Hong Kong and Malaysia are also set to report GDP data later in the day.
U.S. stock futures near the flatline after the S&P 500 posted a four-day rally on the back of U.S. and China’s temporary tariff cuts and encouraging inflation reports. Futures tied to the Dow Jones Industrial Average added 32 points, or 0.08%. S&P 500 futures slipped 0.03%, while Nasdaq 100 futures inched down 0.07%.
Overnight stateside, the three major averages closed mixed. The S&P 500 climbed for a fourth session, adding to this week’s rally after the U.S. and China agreed to temporarily slash tariff rates. The broad market index rose 0.41% to end at 5,916.93, while the Dow Jones Industrial Average added 271.69 points, or 0.65%, and closed at 42,322.75.
The Nasdaq Composite underperformed, slipping 0.18% and settling at 19,112.32.
— CNBC’s Brian Evans and Scott Schnipper contributed to this report.
