Overnight

Stocks in Asia over the past month have generally gone up, but Friday was one of those down days as concerns about global growth bubble back into the picture particularly the U.S. Earlier this week the World Bank cut its forecast for global growth to 2.4% from its January figure of 2.9%

Gold though off overnight in Asia traded at $1,270 an ounce and Brent crude sat around $51.84 a barrel, both numbers most would have not expected a few short weeks ago The Nikkei 225 was off 0.5%, the Kospi edged 0.4% lower and Hong Kong's Hang Seng Index dropped 0.8%.

Markets in China were closed for holiday. One of the few bright spot was the MSCI Asian-Pacific Index ex-Japan trended as it has been higher, nearing a fourth straight week of gains.Yesterday the Bank of Korea surprised with an interest rate cut sending their benchmark to 1.25%, a new low, but equities overnight didn't seem to care as they drifted lower.

One meme making the rounds is subdued sentiment pending next week's Fed and Bank Of Japan meetings.This goes along with the "risk off" theme of late as caution and uncertainty set in and investors prove patience might be the better part of valor at this point.Will the BOJ expand its stimulus program next week is just one of many question on investor minds. There are times when a stronger currency ain't your friend and that's apparently the picture with the yen that put downward pressure of Japanese equities for much of the week.