- Asian equities are on track for their largest weekly gains since January, thanks to a resurgence in Chinese stocks and predictions that the Federal Reserve is on the verge of raising interest rates.
- Shares rose in South Korea, Australia, and Hong Kong, extending the MSCI Asia Pacific Index's weekly gain to more than 4%. Following a 2.6% gain in a measure of US-listed Chinese companies on Thursday, investors continued to respond to signals of Beijing's reinvigorated attempts to boost its economy.
- In Japan, both the Topix and the Nikkei 225 indices are down, owing in part to the yen's comeback towards a seven-day winning run, which would be its best performance since 2018.
- The dollar held steady on Friday after falling for the fifth consecutive session. As a result, a currency strength indicator is on track for its worst week since November. Treasuries changed little in Asia. The offshore yuan rose somewhat.
- The Australian dollar and government bond yields remained stable after the government chose Michele Bullock as the country's new central bank governor, succeeding Philip Lowe when his term expires in September.
