Asian Equities Mixed after Poor U.S. Lead

Asian equities opened mixed on Friday, tracking a confluence of negative factors such as an uninspiring lead from the U.S. overnight, falling commodity prices, weak data from Japan and fresh market jitters from China.

Wall Street ended narrowly mixed on Thursday, as investors digested ho-hum earnings and U.S. second-quarter gross domestic product (GDP) that came in slightly below expectations. The blue-chip Dow and the S&P 500 ended near the flatline, while the Nasdaq Composite added 0.3 percent.

A stronger dollar weighed on oil and gold prices on Thursday. U.S. crude settled down 27 cents at $48.52 a barrel, and Brent crude oil fell 15 cents a barrel to $53.20. Spot gold dropped as much as 1.3 percent to a session low of $1,081.85 an ounce in earlier trade, before recovering to $1,087.70.