Asia-Pacific markets are set to open mixed as investors await Tokyo, U.S. inflation data

Asia-Pacific markets were set to open mixed on Friday, as investors awaited key economic data out of Japan as well as U.S. inflation reading for clues on the two countries' monetary policy path.

The Japanese yen currently still stands above the 160 mark against the dollar, last at 160.72, after hitting its weakest level against the greenback in 38 years on Thursday.

Japan will release June inflation data for the capital city of Tokyo, which is widely considered to be a leading indicator for nationwide trends.

The country will also release unemployment numbers and industrial production data for May.

Japan's Nikkei 225 futures pointed to a rebound for the market, with the futures contract in Chicago at 39,620 and its counterpart in Osaka at 39,580 compared to the previous close of 39,341.54.

Futures for Australia's S&P/ASX 200 stood at 7,775, also rebounding from its last close of 7,759.6.

In contrast, Hong Kong Hang Seng index futures were at 17,524, lower than the HSI's last close of 17,716.47. The index had hit a near two-month low on Thursday.

Overnight in the U.S., the S&P 500 eked out a narrow gain as Wall Street looked ahead to fresh inflation data to assess when the Federal Reserve will begin lowering interest rates.

The U.S. is expected to release its preferred inflation gauge, the personal consumption expenditure index on Friday.

The broad market index closed marginally higher at 0.09%. The Nasdaq Composite added 0.30%, while the Dow Jones Industrial Average inched up 0.09%.

—CNBC's Hakyung Kim and Sarah Min contributed to this report.