MSCI's gauge of Asia Pacific stocks outside Japan was down 0.43%, with Australia's ASX 200 off 1.1% to an almost three-week low. China's CSI300 Index edged down 0.1%, as investors looked out for any news from a meeting of China's Communist Party leaders to set the next five-year plan. Data out earlier in the day also showed China's industrial profits grew at a slower pace in September, suggesting a recovery in the manufacturing sector is yet to be bedded-in.
Semiconductor-related stocks in Asia-Pacific were watched on Friday after chipmaker Intel reported mixed quarterly numbers.
Global stocks rallied and benchmark U.S. Treasury yields hit 4-month highs on Friday, buoyed by optimism that a deal can be reached on a fresh U.S. coronavirus relief package. White House Chief of Staff Mark Meadows late on Thursday said that negotiations with lawmakers on a coronavirus relief package, now totalling $1.9 trillion, have entered a new phase with congressional committee chairs meeting and the two sides trading technical language. "The stimulus talks are continuing so the market is happy about that even though we probably won't get anything done before the election," said Thomas Hayes, managing member at Great Hill Capital LLC in New York.