- Asian equities rose, with Hong Kong shares leading the way, as investors became more optimistic about further relaxation of China's trade restrictions.
- Chinese technology firms listed in Hong Kong rose as much as 4.4%, while the MSCI Asia Pacific Index advanced for the third week in a row. On bets that China's economy will reopen, Goldman Sachs strategists upgraded Hong Kong stocks to market-weight.
- China also reduced the amount of short-term cash injections into the banking system as the country's government bond market stabilised after this week's steep losses.
- Stocks rose in Japan, Australia, and South Korea, indicating that there was little reaction to news that North Korea had launched a missile.
- Treasury yields held gains across the yield curve in morning trading in Asia, following the previous day's jump when Fed's Bullard said policymakers should raise interest rates to at least 5% to 5.25% to combat inflation. He also predicted more financial difficulties in the future. Australian and New Zealand bond yields followed suit.
- The dollar fell after a rally on Thursday. Oil was headed for a weekly loss as concerns about a worsening demand outlook permeated the crude market.
