Investors Brace for Impact as Fed Meeting Looms

Major stock indexes across the Asia-Pacific region were mostly in the red on Friday, as investors anxiously await the Federal Reserve's meeting next week. Market sentiment was also influenced by the latest US inflation report, which showed a slight increase from 2.6% to 2.7% as of Wednesday.

Adding to the anticipation, Japan's industrial production figures are scheduled for release later today, further contributing to market volatility.

In Australia, the S&P/ASX 200 index dipped by 0.67% at 3:25 am CET. Meanwhile, South Korea's Kospi Composite experienced a modest 0.23% gain shortly after. Hong Kong's Hang Seng index took a significant hit, plunging by 1.74% at 3:27 am CET. On the Chinese mainland, both the Shanghai Composite and Shenzhen Composite indices fell by 1.48% and 1.50% respectively at 3:28 am CET.

The US dollar strengthened by 0.14% against the Japanese yen, trading at ¥152.8960 at 3:30 am CET. Japan's Nikkei 225 index also saw a decline, dropping by 1.18% at the same time.