Horizontal cityscape against clear sky at Tokyo bay area. Illuminated skyscrapers and Tokyo Tower in the dusk.
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Stocks in the Asia-Pacific dipped on Friday, as investors await the closely watched February non-farm payrolls report from the U.S. that could further determine the direction on the Federal Reserve's rate hikes ahead.
The Hang Seng index in Hong Kong fell 3.09%, leading losses in the region. In mainland China, the Shenzhen Component shed 1.2% and the Shanghai Composite fell 1.4% as China's Xi Jinping formally secured an unprecedented third term as president.
In Australia, the S&P/ASX 200 tumbled 2.28% to close at 7,144.7 — continuing the selloff on Wall Street led by bank stocks on contagion worries related to Silicon Valley Bank. South Korea's Kospi lost 1.01% to 2,394.59 and the Kosdaq fell 2.55% to 788.60.
The Nikkei 225 in Japan shed 1.67% to 28,143.97 and the Topix lost 1.91% to 2,031.58 as Bank of Japan held its interest rates at -0.1%, widely in line with expectations in a Reuters poll.
Japan's parliament approved Kazuo Ueda as the next Bank of Japan governor, Kyodo reported — current governor Haruhiko Kuroda chaired his last policy meeting before his term ends on April 8.
Overnight in the U.S., stocks tumbled Thursday, with the S&P 500 closing 1.8% lower and the Dow Jones Industrial Average shed more than 500 points as investors braced for a key payroll report Friday that could shape the direction of interest rates.
— CNBC's Evelyn Cheng, Samantha Subin, Hakyung Kim contributed to this report
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