Most Asian markets lost ground on Friday as traders await the U.S. non-farm payrolls data later and after drops in commodity prices overnight.
Markets in Japan are shut for the rest of the week for the Golden Week holiday. Markets in Korea were closed at well
Hong Kong’s Hang Seng Index tumbled 207.53 points, or 0.8%, to close the week at 24,476.35
In Hong Kong, Macau casino plays tumbled. SJM fell 4.5% after reporting first-quarter earnings.
Rating agency CIMB said in a note Thursday that SJM's earnings before interest, tax, depreciation and amortization (EBITDA) were 15% below its forecast, while its gaming revenue fell 5% on-year, underperforming the overall Macau gaming market's 13% rise.
CIMB also noted that the opening of SJM's Grand Lisboa Palace (GLP) was delayed until the second half of 2018 due to a labor shortage, which it expected would result in further market share losses.
Other casino plays also fell, with Galaxy down 4.6% and Wynn Macau off 2.4%.
Australian markets dipped as declines in resources shares were partially offset by Macquarie's 3.2% jump after the bank's full-year profit beat expectations.
Australia's resources shares extended losses. Rio Tinto lost 2%, Fortescue shed 3% and BHP Billiton was off 2.7%
Oil stocks were also lower, with Santos off 3% and Woodside down 2.7%
Sources with the Organization of the Petroleum Exporting Countries told media outlets that the cartel was unlikely to make cuts deeper.
Some believe that is necessary because OPEC members Libya and Nigeria, both exempt from the deal, have raised output more than anticipated.
The commodity-price falls also weighed on the Australian dollar, which touched its lowest levels since January. The Aussie was fetching $0.7394 U.S. mid-afternoon, after falling as low as $0.7365 earlier.
In other markets
Shanghai’s CSI 300 dipped 21.84 points, or 0.6%, to 3,382.55
In Taiwan, the Taiex Index slid 67.7 points, or 0.7%, to 9,899.94
In Singapore, the Straits Times Index nicked up 1.11 points to 3,229.73
In New Zealand, the NZX 50 faded 12.92 points, or 0.2%, to 7,365.50
In Australia, the ASX 200 doffed 39.81 points, or 0.7%, to 5,836.56
