MORNING BID ASIA - China PMIs, Tokyo CPI Eyed, Month-End Mood Dims

MORNING BID ASIA -  May 31 (Reuters) - A look at the day ahead in Asian markets. An Asian economic calendar on Friday overflowing with top-tier indicators awaits investors, who look set to close out the week and the month on a downbeat note as worries grow over the strength of the U.S. and global economies.

Investors often cheer 'bad news' on the U.S. economy by bidding up risk assets on the view that the Fed will be forced to ease policy. Equally, 'good news' often drags stocks and bonds lower because rates may have to stay higher for longer.