Goldman Sachs Group Inc has returned to a preference for investment-grade dollar bonds over high-yield debt in Asia, citing worries about the US economy and expectations of a growth-friendly Federal Reserve (Fed).

Economists expect Malaysian industrial production to decline in the months ahead as support from front-loading activities to beat US tariffs unwinds.

Recurring applications for unemployment benefits surged to the highest since November 2021, adding to recent signs that the labour market is weakening.

China’s trade volume with the member states of the Association of Southeast Asian Nations (Asean) increased by 8.2% year-on-year in January-July, reaching US$596.99 billion (RM2.5 trillion), according to TASS news agency, citing the General Administration of Customs of China.

Oil prices were little changed in early Asian hours on Friday, but were headed for their steepest weekly losses since late-June, as investors expressed concern over the impact to the global economy from tariffs that kicked into effect on Thursday.

US Commerce Secretary Howard Lutnick said on Thursday he expects the country to collect US$50 billion a month in tariff revenues or more — up from US$30 billion last month — as higher levies on imports from dozens of countries kick in.