Market Data 
Investing.com– Most Asian stocks moved little on Friday with focus squarely on upcoming U.S. nonfarm payrolls data, which is expected to provide more cues on when the Federal Reserve could begin cutting interest rates.
Focus was also on a Reserve Bank of India decision on interest rates, after local stocks saw wild swings this week following a surprise result in the 2024 general elections.
Regional stocks took middling overnight cues from Wall Street, as investors hunkered down before the , which is expected to provide definitive cues on the labor market and interest rates.
U.S. stock index futures tread water in Asian trade.
Still, appetite for risk-driven assets was somewhat buoyed by interest rate cuts by the and the this week, which drummed up optimism over looser monetary conditions this year.
Indian stocks eye mildly positive open, RBI awaited
for India’s index pointed to a mildly positive open, as the index clocked a two-day rebound from steep losses incurred on Tuesday.
The Reserve Bank of India is widely expected to on Friday, with few plans to begin altering policy, given that inflation has remained sticky in the country. But the RBI is also expected to reiterate a strong outlook for the Indian economy.
The Nifty and were still set for weekly losses, having plummeted from record highs earlier this week after a BJP-led alliance clinched a much smaller majority in the 2024 elections, presenting a difficult third term for Prime Minister Narendra Modi.
Japanese stocks tick lower as BOJ prepares to tighten policy
Japan’s and indexes fell about 0.2% each, weighed by growing bets that the Bank of Japan will by lowering its bond purchases.
Governor Kauo Ueda reiterated plans for such a moved earlier this week, while signs of a rebound in Japanese inflation and improving wages also drove up expectations of tighter policy.
But other data released on Friday showed Japanese fell more than expected in April, raising doubts over just how much headroom the BOJ had to tighten policy.
Chinese stocks fall after mixed trade data
China’s and indexes fell 0.8% and 0.3%, respectively, on Friday, after mixed trade data from the country.
Losses in mainland stocks dragged Hong Kong’s down 0.7%.
China’s rose much more than expected in May on robust industrial production and improving overseas demand.
But grew at a slower-than-expected pace, as local demand remained weak amid soft consumer spending.
Chinese stocks have remained largely rangebound in recent weeks, as optimism over an economic recovery in the country soured in anticipation of more stimulus measures from Beijing.
Broader Asian stocks inched higher. Australia’s index rose 0.3%, while South Korea’s added 0.7% in catch-up trade after a holiday on Thursday.
