Asian shares drifted lower following a slump in crude oil and other commodities.
Copper posted its biggest fall since 2015 while oil slid below $46 a barrel, to its lowest level since November. Investors are awaiting U.S. jobs report for May after the Federal Reserve signalled that its gradual rate hike policy is intact despite recent softness in the economy.
Japan and South Korea stock markets are shut. SGX Nifty futures indicate a weak start for Indian equities after the NSE Nifty 50 Index ended near its record high on Thursday.
U.S. Jobs Report Eyed
U.S. non-farm payrolls growth will bounce back to 190,000 after March's weather-afflicted reading of 98,000, according to economists polled by Bloomberg.
Fed Chair Janet Yellen and at least five other Fed officials are scheduled to speak on Friday, giving policymakers a chance to explain their decision to hold interest rates.
Futures on the S&P 500 Index were little changed after the underlying gauge rose 0.1 percent Thursday.
Also Read: April's U.S. Jobs Report Seen as Brighter, Starting at the Top
Investors will also monitor Sunday's presidential election in France, with polls suggesting centrist Emmanuel Macron holding a 22 percentage points lead against anti-euro Marine Le Pen.
Also Read: Le Pen's Party Talks Of Defeat In France After Angry Debate
Commodities Rout
Oil plummeted to its lowest level since November as growing U.S. shale output negated gains from the Organisation of Petroleum Exporting Countries' deal to cut supply.
U.S. crude output rose the eleventh week through April 28 for the longest run of gains since 2012, government data showed on Wednesday.
Meanwhile copper plunged along with other industrial metals amid concerns over the slowdown in China. The Bloomberg World Mining Index fell for a fourth day as iron ore tumbled in Dalian and steel slid in Shanghai.
Weak Start?
SGX Nifty futures, an early indicator of the Nifty's performance, dropped 0.33 percent to 9,356 as of 7:05 a.m.
Indian benchmark indices ended near record highs on Thursday, boosted by a rally in banking shares after the Cabinet approved a proposal to help resolve bad loans.
Shares of Wockhardt Ltd. will be in focus today after the drugmaker's loss widened to Rs 207.2 crore in the quarter ended March.
Also Read: Coal India Considering Listing On London Stock Exchange
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