Asia-Pacific markets set to open mixed as Fed rate-cut hopes dim after strong U.S. jobs data

Australia's S&P/ASX 200 was up 0.42% in early trade.

Hong Kong's Hang Seng index futures were at 27,206, lower than the HSI's last close of 27,266.38.

Japan's markets are set to open higher, resuming trade after a holiday. Japan's Nikkei 225 futures pointed to a stronger open. The Chicago contract stood at 58,130 while its Osaka counterpart was at 58,160, compared with the index's previous close of 57,650.54.

Overnight in the U.S., the Dow Jones Industrial Average snapped a three-day win streak after a better-than-expected January jobs report.

The blue-chip index lost 66.74 points, or 0.13%, and closed at 50,121.40. The S&P 500 was nearly flat at 6,941.47. The Nasdaq Composite dropped 0.16% to end at 23,066.47.

The Bureau of Labor Statistics' January nonfarm payrolls report showed job growth of 130,000 in January. Economists polled by Dow Jones had estimated gains at 55,000. Jobs growth in December was downwardly revised to 48,000.

Strong labor market has reduced the odds for interest rate cuts by the Federal Reserve.

The jobs report follows weaker-than-expected consumer data released on Tuesday. That report showed that consumer spending in December was flat, missing the 0.4% monthly gain expected from economists polled by Dow Jones.

—CNBC's Sean Conlon and Liz Napolitano contributed to this report.