On Friday, most Asian markets had lackluster trading, with market focus on the upcoming release of US non farm payroll data, which is expected to provide new clues about when the Federal Reserve may start cutting interest rates.

People are also paying attention to the interest rate decision of the Reserve Bank of India, as the local market has experienced significant volatility this week following the unexpected results of the 2024 election.

Asian stock markets have been coldly affected by overnight signals from Wall Street, as investors are preparing for the upcoming release of US non farm payroll data, which is expected to provide decisive clues about the labor market and interest rates.

In Asian trading, US stock index futures remained unchanged.

However, due to the interest rate cuts by the Bank of Canada and the European Central Bank this week, expectations of loose monetary policy this year have been raised, and demand for risky assets has still been boosted.

The Nifty 50 index futures in India showed a mild rise at the opening, after a sharp decline on Tuesday before rebounding for two consecutive days.

The Reserve Bank of India typically expects to maintain its policy repo rate stable on Friday, given the country's ongoing inflation and limited plans to modify the policy. However, the Reserve Bank of India is expected to reiterate its optimistic forecast for the Indian economy.

After the coalition led by the People's Party of India won a relatively weak majority in the 2024 elections, the Nifty and BSE Sensex 30 indices have fallen from historical highs earlier this week and continue to decline, posing a challenge to Prime Minister Narendra Modi's third term.

On the Japanese side, as the Bank of Japan prepares to tighten policies, the Japanese market is falling.

The Nikkei 225 index and TOPIX index fell nearly 0.2% respectively, influenced by market expectations that the Bank of Japan will tighten monetary policy by reducing bond purchases next week. The signs of rising inflation and rising wages in Japan have fueled market expectations for tightening policies.

However, additional statistics released on Friday showed that household spending in Japan fell more than expected in April, raising questions about how much room the Bank of Japan has for policy tightening.

On the Chinese side, the stock market fell due to differences in trade data.

On Friday, the Shanghai Composite Index and Shenzhen Component Index of China fell 0.8% and 0.3% respectively, closely following changes in domestic trade data.

The Hang Seng Index in Hong Kong fell 0.7%, dragged down by the decline in the mainland stock market.

Due to strong industrial production and improved global demand, China's export growth in May exceeded expectations. However, due to weak local consumer spending, the speed of import expansion was lower than expected.

In recent weeks, most of the Chinese stock market has been trading in a narrow range.

In the supplementary trading after Thursday's holiday, the Australian ASX 200 index rose 0.3%, while the South Korean KOSPI index rose 0.7%.