Most Asian shares slide with monetary policy in focus

Asian markets were trading broadly lower on Friday ahead of several key monetary policy releases, including the RBA's and the BOJ's respective statements, while the upcoming US labour report could help investors decide when the Fed is likely to begin altering its own policy settings.

Japan's benchmark Nikkei 225 index slipped 0.34% to 20,593.48 points within the first hour of trade, while Tokyo's broader Topix gauge fell 0.38% to 1,667.24 points.

Hong Kong's benchmark Hang Seng index crept up 0.08% to 24,395.98 points at the opening bell, and mainland China's benchmark Shanghai Composite rallied 1.21% to 3,705.89 points at the same time.

Korea's benchmark Kospi index lost 0.31% to trade at 2,007.01 points this morning in Seoul.

The benchmark Australian S&P/ASX 200 index went into free-fall, plunging 1.89% to 5,504.30 points in Sydney, with the heavily-weighted banks trading sharply lower.

New Zealand's benchmark S&P/NZX 50 index fell 0.55% to 5,898.80 points this afternoon in Wellington.

The Indian market is still flat but the Nifty is nearing 8600. The 50-share index is up 4.70 points at 8593.35 and the Sensex is up 9.10 points at 28307.23.