Asia markets poised to fall; South Korea economy grows faster than expected

Asia-Pacific stocks are expected to open lower on Thursday as they take their cues overnight from Wall Street. Meanwhile, data revealed that South Korea's third-quarter economy grew slightly faster than expected.

Bank of Korea data shows that the gross domestic product increased by 0.6% from the previous quarter in the quarter July-September. The next meeting of the South Korean central banks will be held in late November.

The Nikkei index is expected to drop, with futures contracts in Chicago and Osaka both at 30,775 against the last close of 31269.92.

The S&P/ASX 200 index opened 0.7% lower in Australia.

Futures for Hong Kong’s Hang Seng Index stood at 17,158. This indicates a slightly higher opening compared to HSI’s close of 17085.33.

S&P 500 fell below a critical level on Wednesday, after Alphabet's disappointing quarter results and a rise in interest rates.

Chart analysts were closely watching the closing level of 4,200, which was the benchmark index. The benchmark index dropped 1.43% and closed at 4,186.77. This was the first time since May that the S&P 500 had closed below the 4,200 level.

The Dow Jones Industrial Average dropped 105.45 point, while the Nasdaq Composite fell by 2.43%.