Asian markets slip in light trade before US payrolls

Asian markets were off to a soft start on Friday as traders braced themselves for the upcoming US non-farm payrolls report - the next piece in the Fed's economic puzzle. Federal Reserve (Fed) watchers will get another important insight into how the world's largest economy is tracking, with monthly US employment figures due during the US session on Friday.

Non-farm payrolls are expected to have picked up by 202,000 in September, following a 173,000 rise in August, while the unemployment rate is forecast to have remained at 5.1% last month.

Japan's benchmark Nikkei 225 index fell 0.49% to 17,635.08 points within the first hour of trade, while Tokyo's broader Topix gauge declined 0.45% to 1,436.22 points.

Korea's benchmark Kospi index slipped 0.16% to 1,976.01 points on Friday morning in Seoul.

Hong Kong's benchmark Hang Seng index rallied 1.48% to 21,154.19 points shortly after the opening bell, with Hong Kong playing catch up after closing on Thursday, while mainland Chinese markets were closed in observance of National Day.

The benchmark Australian S&P/ASX 200 index fell 0.22% to 5,101.10 points in Sydney, with very mild moves on the index on Friday.

New Zealand's benchmark S&P/NZX 50 index rose 0.19% to 5,596.22 points this afternoon in Wellington.