SYDNEY (Oct 20): Stocks in Asia look to open lower going into the end of a week that’s seen record levels for global equities as investors assess the prospects for earnings, the economy and monetary policy implications of a new chair of the U.S. Federal Reserve.

Equity-index futures in Japan were weaker and the yen strengthened. The latest scandal in Japan led Nissan Motor Co. shares lower in New York as the carmaker halts domestic production. Treasuries rose and the dollar fell after a report from Politico that President Donald Trump is leaning toward Jerome Powell as the next Fed chairman. In New Zealand, the election result pummeled the kiwi dollar and the equity market fell as investors said the outlook for economic growth had deteriorated.

Political developments in Spain, a decision on a Fed chair that may sway the path of U.S. interest rates, and testing equity valuations are just some of the reasons why money managers are showing signs of caution. Bouts of volatility in the U.S. equity market continue to dissipate quickly -- the CBOE Volatility Index, which surged as much as 17 percent intraday, finished Thursday flat. China’s economy demonstrated its resilience Thursday as gross domestic product expanded 6.8 percent in the third quarter from a year earlier, a reminder of steady global growth.

These are some key upcoming events:

* The big highlight of the weekend at China’s Communist Party Congress will be a discussion on reforms for state-owned Chinese companies. On Friday, delegates debate changes to the party constitution and culture officials brief the media.

* Bank of Japan Governor Haruhiko Kuroda speaks in Tokyo.  

* Japan goes to the polls on Sunday with a win tipped for Prime Minister Shinzo Abe. Read more here.

Terminal subscribers can read more on our markets blog.

Here are the main moves in markets:

Stocks

* Futures on Japan’s Nikkei 225 Stock Average slid 0.7 percent in Singapore. Contracts on Australia’s S&P/ASX 200 Index fell 0.3 percent.

* New Zealand’s S&P/NZX 50 Index declined 1 percent, extending this week’s loss to 2.9 percent.

* Hang Seng Index futures were up 0.2 percent in most recent trading. That market fell 1.9 percent on Thursday, with moves exacerbated by derivatives contracts. More on that story here.

* Futures on the S&P 500 Index were little changed in early Friday trading. The underlying gauge rose less than 0.1 percent on Thursday.

Currencies

* The New Zealand dollar was at 70.26 U.S. cents after tumbling 1.7 percent Thursday.

* The yen traded at 112.56 per dollar after advancing 0.4 percent on Thursday.

* The Bloomberg Dollar Spot Index lost 0.2 percent on Thursday.

* The euro was at $1.1846.

* The pound slid to $1.3153.

Bonds

* The yield on 10-year Treasuries decreased three basis points to 2.32 percent.

* Australia’s 10-year yield slid two basis points to 2.74 percent.

Commodities

* West Texas Intermediate crude fell 1.4 percent to $51.29 a barrel on Thursday.

* Gold traded at $1,290.07 an ounce, down more than 1 percent this week.