Asian markets opened mostly lower on Friday, following a weak lead from Wall Street and as investors awaited a key US inflation report due later in the day.
Hong Kong's Hang Seng Index was down 0.27 percent to 24,188.24 while Tokyo's benchmark Nikkei 225 index fell 0.57 percent.During the previous trading day, European and US stock markets dropped as traders tracked developments surrounding the Omicron coronavirus variant and fallout from the Chinese property crisis.
"It is clear that the momentum we saw at the start of the week has well and truly faded," said analyst Fawad Razaqzada at ThinkMarkets. Traders were awaiting the latest US consumer price data, set for release Friday, which is expected to show inflation climbing higher last month. Key figures at the Fed "have signalled a hawkish shift in their policy stance, catalysed by increasing discomfort with elevated inflation against a backdrop of robust growth and ongoing strengthening in labour markets conditions", Morgan Stanley economists and strategists said in a note Thursday.
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