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Japan’s Nikkei falls 2%, Asia markets slip ahead of U.S. jobs report

Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020.

Kiyoshi Ota | Bloomberg via Getty Images

Asia-Pacific markets opened lower on Friday as markets continued to process the U.S. Federal Reserve’s 75 basis point interest rate hike.

Japan’s Nikkei 225’s fell 2% in early trade after a holiday on Thursday. The Topix slid 1.38%.

In South Korea, the Kospi declined fractionally. The Kosdaq shed 0.36%.

MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed.

Australia’s S&P/ASX 200 slipped 0.23%. The Reserve Bank of Australia is scheduled to release a monetary policy statement later Friday.

Qantas’ shareholders meeting and Singapore’s retail sales data are also slated for Friday.

The monthly U.S. employment report is scheduled to be released later. Economists expect 205,000 jobs were added in October, and forecast the unemployment rate remained at 3.5%, according to Dow Jones.

Overnight, U.S. stocks declined for a fourth consecutive session. The Dow Jones Industrial Average slid 146.51 points, or 0.46%, to close at 32,001.25. The S&P 500 lost 1.06% to finish at 3,719.89, while the Nasdaq Composite shed 1.73% to settle at 10,342.94.

—CNBC’s Samantha Subin, Carmen Reinicke contributed to this report.

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