Japan GDP, Hong Kong GDP

Asia-Pacific markets were mixed Friday as investors parsed Japan’s latest gross domestic product figures and awaited a slate of other economic data from the region.

Japan’s benchmark Nikkei 225 slipped 0.14%, while the Topix added 0.12% after Japan’s economy contracted 0.2% quarter-on-quarter for the three months ended March. Economists polled by Reuters had estimated a 0.1% economic contraction from the prior quarter.

The data comes at a time when the country is locked in trade negotiations with the U.S., with initial talks between both sides not yielding a conclusive deal so far.

A weak outcome for Japan’s GDP can weigh on the Bank of Japan’s rate hike pricing and push USD/JPY up towards resistance at 148.13, Commonwealth Bank of Australia wrote in a note. The Japanese yen is currently trading at 145.52 against the greenback.

Australia’s benchmark S&P/ASX 200 added 0.44%. South Korea’s Kospi rose 0.33% while the small-cap Kosdaq slipped 0.2%.

Hong Kong’s Hang Seng index slipped 0.66% while mainland China’s CSI 300 dipped 0.2%.

Hong Kong and Malaysia are also set to report GDP data later in the day.

U.S. stock futures near the flatline after the S&P 500 posted a four-day rally on the back of U.S. and China’s temporary tariff cuts and encouraging inflation reports. Futures tied to the Dow Jones Industrial Average added 32 points, or 0.08%. S&P 500 futures slipped 0.03%, while Nasdaq 100 futures inched down 0.07%.

Overnight stateside, the three major averages closed mixed. The S&P 500 climbed for a fourth session, adding to this week’s rally after the U.S. and China agreed to temporarily slash tariff rates. The broad market index rose 0.41% to end at 5,916.93, while the Dow Jones Industrial Average added 271.69 points, or 0.65%, and closed at 42,322.75.

The Nasdaq Composite underperformed, slipping 0.18% and settling at 19,112.32.

— CNBC’s Brian Evans and Scott Schnipper contributed to this report.