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

Asia-Pacific markets are set for a weaker open Thursday, taking cues from Wall Street overnight, while data showed South Korea's economy grew at a slightly higher-than-expected pace in the third quarter.

Gross domestic product grew 0.6% in the July-September quarter from the prior quarter, according to data released by the Bank of Korea. The South Korean central bank will hold its next policy meeting in late November.

Japan's Nikkei 225 is set to fall, with the futures contract in Chicago at 30,775 and its counterpart in Osaka at 30,950 against the index's last close of 31,269.92.

In Australia, the S&P/ASX 200 opened 0.7% lower.

Futures for Hong Kong's Hang Seng index stood at 17,158, pointing to a slight higher open compared to the HSI's close of 17,085.33.

The S&P 500 closed below a key level on Wednesday after disappointing quarterly results from Google-parent Alphabet and a rebound in interest rates.

The benchmark index fell 1.43% to close at 4,186.77, ending the day below the 4,200 level that was being widely watched by chart analysts. It was the first time the S&P 500 closed below this threshold since May. 

The Dow Jones Industrial Average fell 105.45 points, while the Nasdaq Composite lost 2.43%.

— CNBC's Brian Evans and Hakyung Kim contributed to this report.