Asia markets fall

Markets in the Asia-Pacific mostly fell on Friday while investors looked for clarity after China signaled slight easing of its stringent Covid restrictions, reports CNBC.

In Japan, the Nikkei 225 traded 1.59 per cent lower to 27,777.90 and the Topix fell 1.64 per cent to 1,953.98.

The Kospi in South Korea fell 1.84 per cent to 2,434,33 as the nation saw its annualized consumer price index for November inch lower from the previous month. In Australia, the S&P/ASX 200 fell 0.72 per cent to end its session at 7,301.5.

Hong Kong's Hang Seng index struggled for direction and fell 0.15 per cent in its final hour of trade. In mainland China, the Shanghai Composite also fell 0.29 per cent and the Shenzhen Component lost 0.4 per cent.

Overnight in the US, the Dow closed nearly 200 points lower ahead of a key jobs report, in which economists expect to see slower growth but resilience for November amid announcements of layoffs and hiring freezes.

Meanwhile, European markets were lower Friday as investors closely monitored news from China over its zero-Covid policy and U.S. non-farm payrolls data.

The pan-European Stoxx 600 was down 0.5 per cent by mid-afternoon. Oil and gas led losses, down 1.5 per cent, with most sectors and major bourses in the red. Retail stocks bucked the trend, trading up 0.4 per cent.

It comes shortly after the European Union tentatively agreed to a $60 barrel price cap on Russian seaborne oil, according to a document seen by Reuters. The price cap, an idea proposed by the Group of Seven, still requires approval from all 27 EU governments in a written procedure on Friday.