Mainland Chinese stocks erased early gains and currently trading lower, with the Shanghai Composite slipped marginally.
The Hang Seng index in Hong Kong advanced 0.22%, the Nikkei 225 fell 2%, the Topix index shed 1.38% and the Kospi in South Korea also down over 0.19%. Australia’s S&P/ASX 200 declined by 1.42%.
The markets in Singapore, Indonesia and Malaysia are closed on Friday in observance of Eid al-Adha.
On Wall Street, stocks closed mixed on Thursday after a Commerce Department report showing a record contraction in US economic activity in the second quarter. The report said real GDP plummeted at an annual rate of 32.9% in the second quarter following a 5.0% slump in the first quarter. The Nasdaq rose 44.87 points or 0.4% to 10,587.81, the Dow slid 225.92 points or 0.9% to 26,313.65 and the S&P 500 fell 12.22 points or 0.4% to 3,246.22.