Most Asian currencies edged lower on Friday with the South Korean won falling amid ongoing political unrest, while the Japanese yen rose on rate hike bets after an inflation reading from Tokyo.

The World Bank raised on Thursday its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.

Asian stocks were largely muted on Thursday as trading remained thin with major stock indexes shut for holidays, while Japanese shares climbed after a report showed Japan planning a record budget for the upcoming fiscal year.

China revised upwards its 2023 gross domestic product (GDP) by 2.7% to 129.4 trillion yuan ($17.73 trillion), a top statistics official said on Thursday, while releasing the fifth national economic census.

Oil prices edged higher on Thursday in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world's biggest oil importer, while an anticipated decline in U.S. crude inventories also provided support.

Asia shares eased in holiday-thinned trade on Thursday, paring some of their gains from earlier in the week, while the dollar rose alongside U.S. Treasury yields.