Asian shares were flat and Treasuries held onto gains on Friday ahead of the U.S. non-farm payrolls data, the next big test for investors looking for more signs of a shift from the Federal Reserve, while the dollar nursed heavy losses.

China's central bank will focus on supporting the slowing economy, People's Bank of China Governor Yi Gang said on Friday, adding that domestic consumer inflation is likely to stay moderate in 2023.

Oil prices rose slightly on Friday as investors speculated over the prospect of a production cut by the OPEC, while optimism over a recovery in Chinese demand and signs of tightening supply put crude markets on course for a positive week.

The dollar held firm on Friday but was pinned down near 16-week lows against a basket of major currencies as data showing increased U.S. consumer spending in October emboldened investor hopes that the peak in interest rates was on the horizon.

Global factory output fell widely last month with U.S. manufacturing activity contracting for the first time in 2-1/2 years and the impact of China's COVID-19 lockdowns weighing, although the downturn eased in Europe, surveys showed on Thursday.

The giant Chinese cities of Guangzhou and Chongqing announced an easing of COVID curbs on Wednesday, a day after demonstrators in southern Guangzhou clashed with police amid a string of protests against the world's toughest coronavirus restrictions.