Asian markets took a breather early Friday after two straight days of stellar gains, tracking a relatively uninspiring finish on Wall Street.
The blue-chip Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) closed marginally below the flatline overnight, while the S&P 500 (CME:Index and Options Market: .INX) and tech-heavy Nasdaq Composite (NASDAQ: .IXIC) added 0.2 percent each as investors awaited the crucial nonfarm payrolls report for September.
The U.S. economy is seen adding 203,000 jobs last month, analysts polled by Reuters said.
Nikkei sheds 0.3%
Japan's Nikkei 225 (Nihon Kenzai Shinbun: .N225) headed south on the final trading day of the week, following a rally of nearly 5 percent in the past two sessions,
Japan's household spending, released before the market open, increased 2.9 percent in August from a year earlier, beating Reuters' estimates for a 0.4 percent rise. The unemployment rate for the same month rose to 3.4 percent from July, government data showed early Friday, slightly higher than the forecast for 3.3 percent.
Export-oriented stocks traded mixed amid a slightly stronger yen (Exchange: JPY=) versus the greenback. Construction equipment makers Komatsu (Tokyo Stock Exchange: 6301.T-JP) and Hitachi Construction Machinery (Tokyo Stock Exchange: 6305.T-JP) fell 3 percent each, while Suzuki Motor (Tokyo Stock Exchange: 7269.T-JP) led losses in the auto sector with a 2.4 percent slump.
Toshiba (Tokyo Stock Exchange: 6502.T-JP) dropped more than 2 percent on the back of news that it may lay off staff in its underperforming home appliances, TV and PC businesses and seek partnerships for its nuclear operations after a$1.3 billion accounting scandal. The changes were revealed at a extraordinary general meeting on Thursday.
Hang Seng jumps 1.6%
Hong Kong's benchmark index climbed at the start of trade, as it played catch-up after being shut for the National Day holiday on Thursday.
The China Enterprise Index which tracks Chinese companies, also got off to a positive start, up 1.4 percent.
Property developers were among the top performers; China Resources Land (Hong Kong Stock Exchange: 1109-HK) leaped 7.8 percent, while China Overseas Land and Investment (Hong Kong Stock Exchange: 688-HK) and China Vanke (: Z2-CN) rose 5.1 and 4.4 percent respectively.
Markets in China remain closed for the week-long National Day holiday.
ASX slips 0.2%
Australian's S&P ASX 200 (ASX: .AXJO) index succumbed to profit-taking on Friday, with financials and miners leading the slide.
Westpac (ASX: WBC-AU) was the biggest loser in the banking sector, down nearly 1 percent, while QBE Insurance (ASX: QBE-AU) and Macquarie Group (ASX: MQG-AU) sagged 0.99 and 0.5 percent respectively.