Japan is scheduled to release a raft of data on Friday while most of the rest of Asia is off on holiday, headlining the day's Asian economic news. Due are April numbers for national consumer prices and vehicle sales, as well as March figures for Tokyo inflation, unemployment and labor cash earnings. Also, the Ministry of Finance is set to announce weekly capital inflow data for stocks and bonds.

Nationwide inflation is expected to ease 0.3 percent on year following the 0.1 percent annual decline in the previous month. Inflation minus fresh food is expected to fall 0.2 percent, as is CPI minus food and energy. Overall Tokyo inflation, considered a leading indicator for the national trend, is forecast higher by 0.1 percent on year after the 0.2 percent annual gain a month earlier. CPI minus food is expected higher by 0.2 percent, while inflation without food and energy is predicted to ease 0.5 percent.

Labor cash earnings are forecast to contract 2.7 percent on year following the revised 2.4 percent decline in February. Unemployment is expected to come in at 4.6 percent, up from the current level of 4.4 percent, while household spending is forecast to fall 2.5 percent and the job-to-applicant ratio is expected to fall to 0.55 from 0.59. Vehicle sales fell 31.5 percent on year in the previous month.

Indonesia will provide March figures for imports, exports, trade balance and inflation. Imports are forecast lower by an annual 42.5 percent, while exports are seen down 39.4 percent and the trade balance is expected to show a surplus of $2.64 billion. CPI is forecast at 7.6 percent, down from 7.92 percent in the previous month.

Thailand will announce inflation data for March, with analysts expecting a contraction of 1.2 percent on year after the 0.2 percent decline a month earlier. Core CPI is called higher by 1.1 percent, slowing from 1.5 percent.

South Korea will announce numbers for April inflation, imports, exports and trade balance. Inflation is predicted to come in at 3.6 percent, easing from 3.9 percent in March. Imports are expected to fall 36.2 percent on year, while exports are called lower by 23.2 percent and the trade balance is forecast at $6.6 billion.

Many of the Asian markets are closed on Friday for Labor Day, including South Korea, Malaysia, Singapore, Taiwan, China, Hong Kong, Thailand, India, and the Philippines.

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