Asia-Pacific stocks set for lower start following Wall Street tumble

SINGAPORE — Shares in Asia-Pacific looked set for a lower start on Friday after an overnight drop on Wall Street sent the Dow Jones Industrial Average to its worst day since 2020.last close at 26,818.53. Japanese stocks are set to return to trade on Friday after being closed for holidays much of this week.

Futures also pointed to a lower open for stocks in Australia, with the SPI futures contract at 7,213, against theWith no obvious news flow to explain the sharp reversal, it seems instead that the relief of Powell indicating 75bp moves were likely a step too far gave way to a renewed focus on high inflation and a challenging growth outlook.The Reserve Bank of Australia is set to release its statement on monetary policy at 9:30 a.m. HK/SIN on Friday.

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